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XRP nears $1.60 as CME futures shorts drop sharply, boosting buying pressure.

Market News
23 Sep 2026, 16:24 WIB
Coinpaper
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Bullish
XRP nears $1.60 as CME futures shorts drop sharply, boosting buying pressure.

XRP's price rose over 6% to around $1.61, driven by a significant reduction in bearish positions in CME futures, where leveraged funds cut their net short exposure by 46.3 million XRP in one week. This short covering helped fuel a surge in trading volume to about $7.4 billion. However, the reduction in shorts was less pronounced on Coinbase derivatives, indicating the market shift is concentrated rather than broad-based. Meanwhile, institutional demand through spot XRP ETFs continues to grow, accumulating $1.7 billion in net inflows, which may support further price gains if short positions unwind further.

As of Sep 23, 2026 20:43 WIB, XRP trades on Pluang at Rp28.128 with a 1-day gain of 1.90%. The market shows a strong trading volume of Rp139,64 trillion and a circulating supply of 62.9 billion XRP, representing 63% of the total supply. Notably, sell orders dominate at 62%, while the typical hold time among investors is 71 days, highlighting active trading amid the recent derivatives-driven price movement.

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