Add as a preferred source on GoogleXaif Says Bitfinex XRP Short Positions Surged 652.89% to 468.2 Million
The Nov. 5 post did not establish whether short sellers had begun covering or whether a squeeze was underway.
Crypto commentator Xaif (@Xaif_Crypto) posted that Bitfinex XRP short positions surged 652.89% to 468.2 million around Nov. 4, describing it as “one of the largest short-position buildups in XRP history.”
Short positions are bets that an asset’s price will fall. Traders profit if the price declines and lose if it rises. If rising prices pressure short sellers to close positions, they may buy XRP back, adding demand.
Xaif’s post did not establish whether short sellers had begun covering or whether a squeeze was underway.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.