📉 XRP’s Sharp Decline

$XRP has dropped from $2.15 to $1.78, reflecting a 16.62% drop in just 24 hours.

This steep correction comes with increased trading volume, signaling strong selling pressure.

🚨 Technical Indicators Flash Bearish

Despite a 199% YOY gain, $XRP is showing bearish momentum in the short term.

Analysts point to a shift in both technical and sentiment indicators, indicating short-term weakness.

📊 The Long to Short Ratio on Bitfinex

Cole Garner highlighted a dramatic shift in XRP’s long to short ratio on Bitfinex:

Long positions surged from 9.5 to 16, signaling a bullish outlook.

But at the peak, the ratio dropped abruptly to 14, hinting at mass liquidations and a shift towards shorting.

The ratio continued to fall to 7.2329 — a 46.86% drop, confirming increased bearish pressure.

🔥 What This Means for Traders

Analysts are recommending to short XRP now as the trend suggests more downside ahead. The market shift is clear, and those who act on this advice may be in a profitable position.

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