XRP News Today: Major XRP Short Covering Removes $6M Bearish Pressure Amid Market Stabilization

A major market player has closed a $6 million short position in XRP, signaling a potential shift in sentiment for the cryptocurrency. According to a recent report, this move could indicate that the recent bearish pressure on XRP is beginning to ease, offering a tentative ray of optimism for holders [1]. The whale’s action suggests either a strategic cover of short exposure or a reassessment of the market’s downside potential, both of which could reduce the intensity of further selling [1].

The timing of this move is significant, coming on the heels of a sharp correction that saw XRP dip as low as $2.75 from levels above $3.00 [1]. The closure of the short position removes a substantial source of bearish pressure and may act as a psychological turning point for the market. Technical indicators show XRP currently trading around $2.98, with key support at $2.75 and resistance near $3.03 [1].

This development coincides with broader stabilization in the cryptocurrency market. Bitcoin has maintained a position above $114,000, while Ethereum and other major altcoins have posted positive returns. These gains are partly attributed to growing optimism around the potential for a U.S. Federal Reserve rate cut in September, fueled by weaker-than-expected employment data [1]. As investors begin to re-enter risk assets, XRP appears to be benefiting from the broader market trend [1].

For XRP holders, the whale’s action may signal a potential pause in the recent selling pressure. While the broader bearish trend remains in place, the closure of a $6 million short could indicate that large players are reassessing their positions. If XRP manages to maintain support above the $2.75–$2.76 range, it could attract renewed buying interest from both retail and institutional investors [3]. However, the token remains sensitive to macroeconomic shifts, regulatory news, and overall market sentiment, all of which could influence its near-term trajectory [1].

Analysts have also highlighted speculative forecasts suggesting XRP could rebound to $6.30 or more, provided the recovery continues [1]. While these projections are optimistic and should be treated as speculative, they reflect a growing sense of cautious optimism among traders. The immediate focus, however, remains on XRP’s ability to hold key support levels and generate sufficient volume to confirm a meaningful rebound.

The broader cryptocurrency landscape has also seen increased activity, particularly in Ethereum, where ETF inflows have exceeded $6 billion. In that space, whale activity has been more focused on accumulation rather than shorting, indicating varied strategies across different assets [2]. This contrast highlights the importance of asset-specific dynamics and the need for investors to closely monitor individual market movements.

In summary, the closure of a $6 million short position in XRP marks a potentially significant moment in its current market cycle. While it is still too early to declare a full reversal, the action removes a key bearish overhang and could contribute to a more balanced market environment. Investors are advised to keep a close eye on XRP’s price action and whale behavior as potential indicators of further direction [3].

Source: [1] This Whale Closes $6 Million in XRP Shorts. Here's What It Means for Holders. (https://timestabloid.com/this-whale-closes-6-million-in-xrp-shorts-heres-what-it-means-for-holders/)

[2] Ethereum ETF Inflows Top $6B But Whales Are Quietly Accumulating This $0.0895 PayFi Coin. (https://coincentral.com/ethereum-etf-inflows-top-6b-but-whales-are-quietly-accumulating-this-0-0895-payfi-coin/)

[3] XRP Price Crash Could Deepen As Bearish Formations Signal Further Downside. (https://www.mitrade.com/insights/crypto-analysis/xrp/bitcoinist-XRPUSD-202508041528)