Recent data from CoinGlass suggests that XRP is currently among the most aggressively shorted major cryptocurrencies — with “long” positions reduced to nearly negligible levels. As traditional finance funds continue loading up spot-XRP ETFs, the extreme bearish skew in futures may create the conditions for a major rebound.
Futures Market Shows Near-Total Shorting
According to publicly shared figures, traders have overwhelmingly bet against XRP. While other top cryptos like Bitcoin (BTC) and Ethereum (ETH) also show net short positions, the imbalance for XRP is markedly more extreme. For example: BTC reportedly has around $131 million in shorts versus $70 million in longs; ETH sits at about $110 million shorts vs $58 million longs. Meanwhile, XRP futures show roughly $15 million in shorts against a mere $0.6 million in longs — a ratio that equates to roughly 96% short, 4% long. That amounts to a nearly 25:1 short-to-long ratio, the steepest among major assets.
This overwhelming bearish sentiment expresses how strongly many traders are betting against an XRP recovery — even as the token tries to build upward momentum.
Despite the enormous short-side pressure, XRP price has held its ground. It is trading in the vicinity of $2.08, showing a ~2.5% gain in the past 24 hours and a similar modest rise of 1.8% on the weekly chart.
That relative stability suggests that spot-market demand for XRP remains resilient, thereby limiting the ability of bearish (short) positions to force a collapse. Many market watchers point to robust flows into spot-XRP ETFs as a key underlying support.
XRP ETFs Post Persistent Inflows Since Launch
Institutional appetite for XRP shows few signs of abating. Spot-XRP ETFs in the U.S. have reportedly attracted $897.35 million in inflows since their mid-November debut. XRP ETF assets under management reached $861.32 million on the same date.
The inflows are led primarily by Canary Capital’s XRP ETF, which has accumulated $363.85 million in net inflows since launch. Grayscale ranks second, recording $211.85 million in inflows during the same period. Bitwise follows with $187.14 million, while Franklin has added $134.50 million.
This institutional accumulation reduces the available supply on the spot market and potentially sets the stage for a so-called “supply shock.” Many analysts believe that if ETF-driven demand continues while spot supply tightens — especially alongside the current short-heavy futures backdrop — XRP could be primed for a strong rally.
You May Also Like: 21Shares Clarifies XRP ETF Status, Says SEC Clearance Still Required
Analysts Warn: Heavy Shorts Could Backfire — Squeeze Risk High
Some voices in the crypto-analysis community warn that the market may be leaning too hard toward bearish consensus. They argue that such one-sided positioning often precedes sharp reversals.
ETF inflows and steady spot demand increase the possibility of a bullish squeeze, especially if short sellers close positions at scale. In that sense, the current setup may be more dangerous for the bearish crowd than for bullish investors.
Recent data from CoinGlass also reveals ongoing liquidations in the XRP futures market. Over the past 24 hours, roughly $9.71 million worth of XRP positions were liquidated — with about $7.05 million from longs and $2.66 million from shorts.
While both sides are under pressure, the liquidation of some shorts suggests risk to traders betting heavily on a decline — especially if spot demand ticks up.