ETH - Can Spike In Short Selling Act As 'Rocket Fuel' For XRP And Cardano? Here Is What This Analyst Firm Says | Benzinga
Investors increased their bearish bets on prominent cryptocurrencies such as XRP and Cardano Wednesday, raising the prospect of gains in the event of liquidation.
What Happened: According to on-chain analytics firm Santiment, XRP and Cardano witnessed heavy shorting following a temporary bounce due to the SEC’s decision to withdraw the security probe into Ethereum (CRYPTO: ETH).
That said, traders didn't find confidence in the relief rally, with most preferring to short the two altcoins.
📈 Cardano and XRP are a couple of the most notable altcoins that are seeing heavy trader shorting following relief bounces. This is a good sign for patient bulls, ...