XRP ETFs Set Records, Short Sellers Set Prices

2 minutes ago by · 2 mins read

Thirteen straight days of inflows pushed spot XRP ETFs to a total of $895 million by December 3.

The US spot XRP ETFs have posted thirteen straight days of inflows. Data from SoSoValue shows that by Dec. 3, these products had drawn a cumulative $895 million. On that day, inflows reached $50.27 million, led by Grayscale’s GXRP at $39.26 million.

The rapid climb places these products near the $1 billion inflow mark, a level experts consider important for drawing long-term institutional interest.

Short Pressure Builds Across Derivatives Markets

XRP XRP $2.16 24h volatility: 0.8% Market cap: $130.28 B Vol. 24h: $3.30 B is trading near $2.16, down about 1.11% over the past day. Futures data shows steady negative funding across the XRP ledger. This signals that short positions are dominating long positions, and the broader market is leaning toward downside exposure. 

XRP funding rates | Source: CryptoQuant

Futures sentiment remains soft, and the recent fall in XRP price supports that reading. Both the setup in futures and the downward movement in price appear to confirm each other.

When more traders continue to open short positions, it becomes harder for buyers to gain control. Under these conditions, XRP could revisit the $2.0 to $1.9 region. A CryptoQuant analyst noted that if negative funding drops further, XRP may drift sideways in the short term.

However, they added that XRP could climb toward the $2.25 to $2.35 band as short positions get forced to close.

XRP Price Outlook

The XRP ledger also saw a sharp burst of activity on December 2. Circulation speed jumped to a yearly high of 0.0324 and pointed to strong movement across the network. 

XRP ledger sharp activity | Source: CryptoQuant

Meanwhile, popular crypto analyst Ali Martinez noted on X that XRP has been trading inside a downward parallel channel on the 4-hour chart. The upper boundary sits close to $2.28, acting as immediate resistance. 

If XRP, which is one of the leading altcoins, closes above that level, Martinez believes it could climb toward $2.75 as buyers attempt to regain control.

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