Blockchain analytics firm Santiment reported on Nov 6 that short sellers have been building positions inside the most profitable XRP wallets it tracks, placing three short positions on record among its top-performing XRP accounts.

According to the figures published by Santiment, those accounts had accumulated a combined 2.1 million XRP in short positions since late October. As of Nov 6, only one wallet among the top-performing XRP accounts monitored by the firm held a long position.

Short positions are trades designed to profit when an asset's price declines, while long positions profit from price increases. A concentration of shorts within a historically high-performing wallet cohort therefore indicates that those particular holders have been betting against the token over the period in question. Data of this kind describes observed positioning within a defined wallet group at a specific point in time, so the reported figures reflect how these tracked accounts were positioned through Nov 6 rather than a projection of any future outcome.

Santiment, an on-chain data provider, publishes regular analytics on cryptocurrency activity, including the tracking of notable wallet cohorts such as its top-performing address groups for individual tokens. XRP is the native digital asset of the XRP Ledger, a blockchain closely associated with payments company Ripple. Readers following the metric can check future Santiment publications to see whether the short-heavy balance among these top-performing wallets persists, deepens, or reverses.

This content was first published on COINOTAG: https://en.coinotag.com/santiment-xrp-shorts-2-1-million-accumulation