Santiment Flags Three XRP Shorts Building 2.1 Million XRP Since Late October

Three Shorts Build a 2.1 Million XRP Position

Short sellers have been building positions inside the most profitable XRP wallets tracked by blockchain analytics firm Santiment, which put the figures on the record on Nov 6. As of that date, only one wallet among the top-performing XRP accounts it monitors held a long position, and that account has not traded since August. Three active short positions, by contrast, had stacked up roughly 2.1 million XRP since late October. Santiment ranks the addresses it follows by realized profitability, so the group it labels most profitable represents traders with the strongest historical results. Wallet-level data of this kind sits outside exchange order books, so it cannot be read as open interest or liquidation flow. In contract trading, a short position profits when the price falls and a long when it rises, so these figures describe directional bets rather than tokens leaving wallets; perpetuals also carry a funding rate that keeps their price tied to spot.

Santiment placed its data on profitable XRP wallets beside a forecast running on its Score Arena platform: a trader's call for XRP to fall to about $0.99, one the trader said would be proved wrong if XRP closed above $1.36. XRP has dropped roughly 10% since that call was posted. The company also shared Score Arena's own XRP options breakdown the same day and asked plainly whether the call showed precision or merely lucky timing, given that the entire market was falling. At the time of its update, Santiment estimated XRP still needed about 17% of further downside to reach the target. The XRP price stood near $1.16 as of Nov 7, and our live options snapshot at 02:30 UTC on Nov 8 put spot at the same $1.16, leaving roughly 15% of further downside before the $0.99 mark. The mechanics matter for timing: the invalidation level at $1.36 sits about 17% above spot, so the market is trading between the call's kill zone and its target.

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Score Arena, the Santiment-run program behind the forecast, allocates the company's own trading capital to selected participants; token holders back the strongest performers, and traders can endorse or dispute any published call. Santiment said on Nov 6 that the platform sits in a closed, invitation-only beta. The $0.99 call goes to a verdict on Nov 19, and its prediction window was due to close within two days of that update. The three traders who disputed the forecast had each been wrong during earlier XRP declines, so their records stay provisional until the verdict date.

The positioning data sits beside a record of growing large holdings. On-chain figures show 2,147 wallets holding at least 1 million XRP as of Nov 3, the highest count of 2026, an increase of 28 addresses in ten days; the metric tracks addresses by balance, not by exchange custody. On Nov 1 the XRP Ledger added 7,934 new wallets, the sixth-highest daily figure of the year. Santiment framed a constructive outlook if daily wallet creation holds above roughly 4,000 and the price recovers above $1.30, and said the signal weakens below $1.20 with creation under 3,000. XRP's slide has run beside a broader altcoin market drawdown, the very objection Santiment raised about the call's timing. A separate gauge of scarcity, which measures how readily XRP can be traded, reached about 2.1 in a Nov 5 reading, its highest since 2022, while total XRP reserves on Binance stood at 2.63 billion tokens that day, up from 2.35 billion on Nov 3.

Our options data does not read as bearish as the tracked wallets do. At the 02:30 UTC snapshot on Nov 8, all-expiry open interest stood at 75,082,004 XRP, roughly $86.8 million in notional value, with a put/call open-interest ratio of 0.50. The largest book, the Dec 25 quarterly carrying 42.66 million XRP, has max pain at $1.35, above spot, and the Nov 27 monthly, 23.81 million XRP, leans heavily toward calls with a put/call of 0.28. Max pain across all expiries sits at $1.30, where a call wall of 2.94 million XRP also concentrates, while a put wall rests at $1.10 and XRP still trades far below its all-time high. A fuller level map is on our XRP technical analysis page. Whether the three shorts kept adding after their last recorded leg is unstated; the 2.1 million XRP figure is simply the latest on record, and the Nov 19 verdict will settle the $0.99 call on its own terms.