XRP Short Positions Rise as Analysts Eye $0.99 Target

What Is Happening with XRPXRP-0.03% Right Now?

If you have been keeping an eye on XRP recently, you might have noticed some interesting moves happening behind the scenes. Analytics firm Santiment reported that several of the most profitable traders in the market turned bearish on the token in early November 2026.

At the same time, a public price forecast calling for XRP to drop to $0.99 sparked active discussion across the crypto community. Let us break down what the latest on-chain data shows and what it means for everyday market observers.

Top Wallets Turn Bearish: The Data Breakdown

On November 6, 2026, blockchain analytics firm Santiment shared data regarding the activity of top-performing XRP accounts. The figures revealed a strong shift toward short positions among profitable wallets.

• Three active short positions: Three major short sellers added approximately 2.1 million XRP to their positions starting in late October 2026.
• Only one long position: Out of the most profitable wallets tracked by Santiment, only a single wallet held a long position. That wallet had not executed a trade since August 2026.
• Market context: The overall crypto market experienced selling pressure during this period, leading analysts to examine whether the price drop was driven by individual predictions or broader market sentiment.

Understanding Perpetual Futures vs. Spot Holdings

To understand these trading positions, it helps to distinguish between spot wallet holdings and perpetual futures contracts.

Spot holdings refer to actual tokens stored directly in a digital wallet. When you purchase spot XRP, you own the underlying asset outright.

Perpetual futures allow traders to gain exposure to price movements using collateral without taking delivery of the actual token. In derivative markets:

• Long positions: Traders profit when the asset price goes up.
• Short positions: Traders profit when the asset price moves lower.

Because futures traders use collateral to back their trades, an increase in short positions indicates growing expectations among active derivatives traders that prices could experience downward pressure in the near term.

Examining the $0.99 XRP Forecast

The conversation gained focus after a trader posted a prediction on social media forecasting that XRP could decline toward $0.99. The trader noted that the forecast would be invalidated if XRP closed above $1.36.

Following that post, XRP declined by roughly 10%. By November 7, 2026, with XRP trading near $1.16, the asset required roughly an additional 15% drop to reach the $0.99 target.

When analyzing price forecasts, it is important to consider multiple market scenarios and underlying assumptions:

• Bearish Scenario: If market-wide selling continues and daily wallet creation falls, XRP could test lower support levels near $0.99. However, sudden shifts in liquidity could alter this trajectory.
• Bullish / Invalidation Scenario: If buying volume increases and XRP closes above the $1.36 threshold, the bearish prediction is invalidated, allowing potential price recovery toward $1.30 or higher.

Past performance of digital assets is no guarantee of future results. Historical price trends or trader positions do not guarantee future performance. You can review live market data on the Bitkub XRP Market.

Inside Santiment's Score Arena Platform

Santiment paired its wallet analysis with data from Score Arena, a platform operating in closed beta that allows selected traders to submit predictions.

Through Score Arena, community participants can back or oppose active trading calls. Santiment allocates its own trading capital to chosen participants, while community stakers keep their tokens outside the trades.

• Resolution date: The $0.99 forecast was set for a final resolution on November 19, 2026.
• Opposing positions: All three traders on the platform who bet against the $0.99 prediction were initially on the wrong side of XRP's price decline.
• Evaluation: Santiment noted that broader market weakness coincided with the call, raising questions over whether timing or individual analysis played the primary role.

Big Holders Keep Accumulating Despite Price Weakness

While short-term futures traders opened short positions, on-chain metrics revealed a different story among large wallet holders.

On November 3, 2026, the count of wallets holding at least 1 million XRP reached 2,147 addresses. This marked the highest level recorded in 2026 after expanding by 28 addresses over a 10-day period.

Network activity also showed strong daily user creation. On November 1, 2026, the XRP Ledger registered 7,934 new wallets in a single day, marking its sixth-highest daily creation total of the year.

Key On-Chain Indicators to Watch

Santiment outlined specific network threshold signals that traders watch to gauge market conditions:

• Constructive Signal: Daily wallet creation remaining above 4,000 paired with a price recovery above $1.30.
• Weakening Signal: Daily wallet creation falling below 3,000 combined with a price decline under $1.20.

Binance XRP Reserves and Scarcity Metrics

Additional data from CryptoQuant provided insight into exchange dynamics on Binance as of November 5, 2026.

The Binance XRP scarcity gauge climbed to a four-year high near 2.1. This metric measures relative availability for trading, with higher numbers pointing to greater relative scarcity on the exchange platform.

Meanwhile, total XRP reserves held on Binance reached 2.63 billion tokens on November 5, up from 2.35 billion tokens recorded on November 3.

Summary for Crypto Observers

The latest XRP data highlights two distinct trends: derivative traders taking short positions targeting lower prices like $0.99, alongside steady accumulation by large wallet holders.

Because digital asset markets remain volatile, readers should closely monitor both short-term derivative trends and broader on-chain adoption metrics.