Digital Asset Investor Highlights 468.2 Million Bitfinex XRP Shorts

Digital Asset Investor (@digitalassetbuy) highlighted a 468.2 million Bitfinex XRP short-position figure in a recent video and characterized the buildup as among the largest in XRP history.

Xaif (@Xaif_Crypto) put the increase at 652.89% around Nov. 4 and said a move against short sellers could make a squeeze explosive. An earlier report on the Bitfinex XRP short buildup covered the increase.

Short sellers bet that an asset’s price will fall. If the price rises, they may buy back XRP to close their positions, adding demand. The 468.2 million figure alone does not establish whether short sellers have begun covering or a squeeze is underway.