Cardano (ADA) and XRP are experiencing a significant rebound in their prices, with ADA gaining 4.49% and XRP 3.87% within the last 24 hours. This resurgence has sparked a new wave of short positions among futures traders, who are hedging their bets against the potential downturn.

Crypto market intelligence platform Santiment has confirmed the ongoing rebound in the price of Cardano and XRP. The firm noted that this renewed rally has fueled a new wave of opened short positions, which could be a sign of a potential uptrend for patient bulls.

Despite the recent price rebound, experts and experienced traders recognize that a downtrend is imminent. This realization has caused many to place short positions on ADA and XRP. However, once they decide to liquidate their shorts investment, they could be on the path to igniting the "rocket fuel" for continued price rallies.

The ecosystem fundamentals of both Cardano and XRP may help cushion the growth of these digital currencies. For Cardano, the deployment of decentralized representatives (dReps) is expected to significantly shift the control of the treasury without a complete constitution. This development is expected to happen within 90 days after the significant Cardano update, referred to as the Chang hard fork.

For Ripple, the ongoing lawsuit with the United States Securities and Exchange Commission (SEC) will have a significant impact on the price of XRP. The eventual outcome will either positively or negatively influence the valuation of XRP. Additionally, the activities on the XRP Ledger, including the introduction of Ethereum Virtual Machine (EVM) compatibility, could also impact the long-term valuation of XRP.

In summary, the rebound in Cardano and XRP prices has fueled a new wave of short positions among futures traders. While a downtrend is imminent, the ecosystem fundamentals of both digital currencies may help cushion their growth.