Will XRP shorting activity serve as ‘rocket fuel’ for an explosive rally?
In the midst of recent cryptocurrency market turbulence and sell-offs, XRP Ledger (XRP), backed by Ripple Labs, is pushing to regain bullish momentum. On-chain analytics platform Santiment has highlighted a factor that could contribute to further price increases for XRP. Despite recent declines in the crypto market, heavy shorting activity against XRP might paradoxically serve as “rocket fuel” for a price rise. Santiment revealed that XRP, along with Cardano (ADA), is among the most heavily shorted altcoins following their relief bounces. This heavy shorting is seen as a positive sign for patient bulls. The liquidation of these short positions could provide the necessary momentum for XRP to rise higher. Picks for you Bitcoin price prediction as $800 billion banking giant enters BTC spot trading 57...