Cilinix Crypto warns XRP downside risk grows while shorts accumulate

A new surge in short positions on XRP could potentially help set the stage for a price recovery, according to Cilinix Crypto, the YouTube channel known for its technical market analysis. The host explained that rapidly declining funding rates indicate a rise in bearish sentiment, but emphasized that a decisive price movement or a reclaim of $1.34 is still needed to shift the outlook from negative to positive. Cilinix highlighted that, despite the increase in short trades, the price threshold of $1.34 acts as a major point of resistance.

Source: CoinTurk News