XRP Stabilizes Near $1.47 Amid Growing Short Crowding

XRP's recent price action has been characterized by a prolonged drawdown phase, with sentiment turning decisively bearish as the price declined nearly 60% from its peak.

According to CryptoQuant data, funding rates have remained persistently negative across recent months, signaling that traders continue to favor short exposure over hedging temporarily.

However, as this bias strengthens, price action begins to shift, with XRP stabilizing around the $1.3-$1.5 range instead of extending lower. This divergence suggests selling momentum is slowing, raising the probability of volatility expansion as crowded shorts build imbalance.