XRP Volume Hits $7.4B as CME Leveraged Funds Cut Net Shorts
CME leveraged funds reduced net short exposure by 46.3 million XRP as the token's trading volume reached $7.4 billion, according to CryptoSlate.
XRP trading volume climbed to $7.4 billion, according to CryptoSlate, alongside a notable shift in derivatives positioning at CME. Leveraged funds cut their net short exposure by 46.3 million XRP.
CME Shorts Reduced
The move in CME leveraged funds contrasted with three Coinbase products, which barely changed over the same period. The data points to a concentrated reduction in bearish positioning on the CME venue rather than a broad-based derivatives shift.
The episode has been described as a short squeeze, with the volume spike and the cut in net shorts cited as evidence. No further breakdown of the Coinbase products or the timeframe was provided in the source.
XRP remains a major cryptocurrency by market capitalization, and its derivatives activity is closely watched for signs of positioning changes. The latest figures offer a snapshot of how leveraged funds adjusted exposure on CME.