Leveraged Funds' Massive Short Exposure Threatened by XRP's Rising Momentum

CryptoSlate reported that CME XRP open interest rose by nearly 40% in one week to 7,783 futures-equivalent contracts. This increase represented about 110.3 million tokens and lifted total exposure to roughly 389.2 million XRP.

Leveraged funds doubled their net short position in the same period, holding a net short of 115.7 million XRP-equivalent, making them the largest directional short among the reportable CFTC categories.

The positioning split shows that dealers and asset managers added net longs during this time, with dealers increasing their net-long position by 59.75 million XRP and asset managers adding 28.25 million XRP-equivalent to finish at 843 contracts net long.