XRP Shorts Top $2 Billion as Smart Money Turns Bearish

XRP shorts have reached $2 billion in 24-hour volume, despite a recent price rebound that saw XRP climb from its September 16 low of $1.25 to $1.482 at press time.

This has put pressure on traders who had bet on further declines, but the recovery has not stopped futures traders from adding to their short positions.

Data from Coinglass shows that XRP's 24-hour taker volume is split roughly evenly between shorts and longs, with shorts accounting for 50.67% of the total volume over the past 24 hours.

However, on major exchanges like Binance, OKX, and Bybit, retail traders and whale accounts continue to favor long positions, while smart money sentiment on Binance and Bybit rates XRP as Extremely Bearish.