On-chain analytics platform Santiment has outlined a factor that could contribute to Cardano (ADA) and XRP enjoying further moves to the upside. Both tokens recorded relief pumps following the recent decline in the crypto market, but market traders believe this development is far from a bullish reversal. Heavy Trader Shorting Could Lead To Price Rises For Cardano And XRP Santiment claimed in an X (formerly Twitter) post that the heavy trader shorting which Cardano and XRP are currently seeing could be the “rocket fuel” for continued price rises for these crypto tokens. Santiment had also revealed that Cardano and XRP were among the most notable altcoins that are heavily shorted following their relief bounces. Related Reading: Ethereum Price To Hit $10,000, ‘Just The Way The Chips Have Fallen,’ Analyst Says Interestingly, they called this a “good sign” for the patient bulls, as they believe that liquidation of these short positions could effectively be the momentum that these crypto tokens need to rise higher. Cardano and XRP being named among the most shorted altcoins isn’t surprising, considering that ..
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