Blockchain analytics firm Santiment reported on Nov. 6 that short sellers had been adding bearish XRP positions among the most profitable wallets it tracks. The firm shared the data on X alongside a $0.99 XRP price forecast posted by a trader on X, which members of its Score Arena platform were voting on.

"A trader called $XRP lower, to ~$0.99, and said the call is wrong if $XRP closes above $1.36. $XRP is down ~10% since," Santiment stated.

Turning to the positions held by the profitable XRP accounts it tracks, the firm added: "Among the most profitable $XRP wallets, only one is long, and it hasn't traded since August. Three active shorts have added ~2.1M $XRP since late October."

In perpetual futures trading, collateral supports positions that provide exposure to gains or losses from price movements without ownership of the underlying tokens. A short position benefits from falling prices, while a long benefits from rising prices. That directional exposure differs from the XRP balances held in spot wallets.

XRP Call Set for Nov. 19 Resolution

Score Arena, Santiment's platform for funding selected traders, also examined the XRP call and the wallet positions on Nov. 6. The firm questioned how much credit the forecast deserved during a period of widespread selling, asking: "Called it, or lucky timing? The whole market dropped too."

As of that update, Santiment estimated that another approximately 17% decline was needed to reach the target. With XRP near $1.16 on Nov. 7, the token would need to fall roughly 15% more to reach $0.99. The call also carries its own stated invalidation condition — a close above $1.36 — giving observers a defined line to watch ahead of the scheduled resolution.

Score Arena's trader allocation community allows traders to submit forecasts and token holders to back performers. Traders can also support or oppose a posted forecast. Under this allocation model, Santiment assigns its own trading capital to selected participants, while stakers' tokens stay outside the trades. In its Nov. 6 comments, the company described Score as being in closed beta, a testing phase limited to invited participants.

Santiment reported that all three traders who opposed the call on Score had been on the wrong side of XRP's decline. Their results remained provisional ahead of the call's scheduled Nov. 19 resolution. In the same Nov. 6 update, the firm said the prediction window would close in less than two days.

Large XRP Balances Grew Alongside Bearish Positions

Separate Santiment figures showed that wallets holding at least 1 million XRP reached 2,147 on Nov. 3, their highest count of 2026. That category had expanded by 28 addresses over 10 days. The balance-based measure tracked addresses crossing a holding threshold, providing a view of large holdings alongside the analysis of trading positions — two datasets that measure different behaviors, letting observers weigh holding activity against leveraged sentiment rather than relying on either signal alone.

The XRP Ledger, the blockchain whose native token is XRP, added 7,934 new wallets on Nov. 1, the sixth-highest daily total of the year. Santiment linked a more constructive outlook to daily wallet creation remaining above roughly 4,000 and a recovery above $1.30. A drop below $1.20 alongside daily wallet creation falling under 3,000 would weaken that signal, the firm said — thresholds that leave the outlook with explicit conditions to confirm or invalidate it.

A Binance XRP scarcity gauge reached a four-year high near 2.1, according to a Nov. 5 analysis from Cryptoquant, an on-chain analytics platform. The gauge measures the relative availability of XRP for trading, with higher readings indicating greater scarcity. Separate figures placed Binance's total XRP reserves at 2.63 billion that day, up from 2.35 billion on Nov. 3 — meaning the scarcity reading and the growth in exchange reserves landed within the same two-day window.