XRP bear trap alert! Bitfinex shorts surge 652% as supply tightens
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Bitfinex short positions on XRP jumped 652% as the token’s bearish technical setup collided with tightening on-chain supply, setting up a potential bear trap. The surge in shorts came as XRP’s price action flashed warning signs of a deeper correction, even as supply metrics pointed in the opposite direction. Traders are now split between betting on further downside and positioning for a short squeeze if the bearish thesis fails. The divergence between derivatives positioning and on-chain fundamentals is the key signal to watch, with a sharp unwind of Bitfinex shorts potentially fueling a violent upside move.
Muhabbit's AI wrote this summary in its own words from AMBCrypto's report. It can get details wrong, so check the source.
Named in this story
XRP (XRP), Bitfinex
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