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HomeCrypto NewsMarketTop Investor Declares Massive Short on XRP

Top Investor Declares Massive Short on XRP

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ChartFu, a widely followed investor on X, revealed that he has taken a short position on XRP. 

He described the move as a confident decision, suggesting he expects lower prices ahead. At the time of the comment, XRP was trading around $1.92, down roughly 2% on the day. 

The token is attempting to recover after slipping to $1.84 earlier. Meanwhile, price action remains under pressure as traders assess the near-term direction.

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Mixed Reactions From Crypto Analysts

The announcement from ChartFu triggered varied responses from other market watchers. Valerioshi, host of The Bitcoin Show, expressed surprise at the bearish call, noting that he had been considering buying a substantial amount of XRP.

ChartFu responded by suggesting that better entry opportunities may appear soon. For now, however, he remains bearish.

Meanwhile, analyst Crypto Xanax took a more critical stance. He argued that trading XRP at all can be frustrating, warning against buying or trading the coin altogether.

XRP ETF Inflows and Whale Accumulation Narrative

Another X user, Rebel, highlighted that XRP ETFs have seen 20 consecutive days of inflows. While noting a personal dislike for XRP, Rebel pointed out that large holders remain bullish on the coin and are accumulating it en masse.

Indeed, data from SoSoValue confirmed that XRP ETFs have now registered $1 billion in total inflows since trading commenced in November. Specifically, five XRP ETFs from asset managers Canary, 21Shares, Grayscale, Bitwise, and Franklin are trading and have accumulated $1.12 billion in total assets.

The continuous inflows these ETFs have registered since their debut, with no recorded outflows, are fueling hopes that a supply shock could occur for XRP to enable its price to soar.

XRP ETF inflow data SosoValue
XRP ETF inflow data SoSoValue

Amid this initial accumulation, many continue to believe that XRP’s outlook remains bullish. However, prominent voices like ChartFu are looking beyond the ETF narrative and publicly disclosing their bearish positions.

“People With Higher IQ Hold XRP”

Interestingly, the bearish call comes as YoungHoon Kim, reportedly the world’s highest IQ holder, turns bullish on XRP. Kim recently tweeted that people with higher IQs are more likely to hold XRP.

Since first mentioning XRP on December 12, he has shared frequent bullish views, including a prediction that XRP could reach $100 within five years.

Meanwhile, not everyone agrees. Trader Peter Brandt recently called XRP permabulls overly optimistic and uninformed. XRP supporters, however, counter that the asset appeals to investors focused on infrastructure, payments, liquidity, and regulation rather than hype.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a seasoned crypto journalist who has established himself as a trusted voice in the world of blockchain and Web3. His extensive knowledge of the crypto space enables him to break down complex concepts into accessible language.

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