Can Spike In Short Selling Act As 'Rocket Fuel' For XRP And Cardano? Here Is What This Analyst Firm Says
Portfolio Pulse from Aniket Verma
Investors have increased their short positions on XRP and Cardano following a temporary price bounce due to the SEC's decision to withdraw the security probe into Ethereum. This heavy shorting could lead to significant liquidations and short squeezes, potentially driving prices up.
June 20, 2024 | 4:18 am
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Cardano (ADA) has seen a significant increase in short positions following a temporary price bounce. This could lead to liquidations and short squeezes, potentially driving the price up.
The increase in short positions on Cardano suggests that many traders are betting against the coin. If the market moves against these positions, it could lead to liquidations and short squeezes, pushing the price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
XRP has seen a significant increase in short positions following a temporary price bounce. This could lead to liquidations and short squeezes, potentially driving the price up.
The increase in short positions on XRP suggests that many traders are betting against the coin. If the market moves against these positions, it could lead to liquidations and short squeezes, pushing the price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100