XRP Shorts Face Growing Pressure Amid Rising Open Interest

Leveraged funds have significantly increased their net short position in XRP on the CME, holding approximately 115.7 million tokens worth of shorts as of last week.

This increase came during a sharp recovery in XRP's price, which has rebounded about 32% from $1 this month to trade near $1.38.

The Commodity Futures Trading Commission (CFTC) reported that open interest in XRP futures increased by 2,206 contracts, equivalent to about 110.3 million tokens, lifting total exposure to roughly 389.2 million XRP.

Meanwhile, dealers and asset managers have moved in the opposite direction, increasing their net-long positions in XRP.