Idea 8 of 9 from @0xGeeGee's latest thesis thread: two shorts on what's below the line.
NEAR
He's short again. The narrative is gone, the correlation with ZEC has cooled off, and the pump was mostly hollow. NEAR tested $4.6 seven or eight times this month and broke below it on Oct 24 (low $4.24). His view is that there's an abyss under that level.
For context, NEAR is still up ~140% over 90 days (from a $1.54 low to a $6.01 high), so it has plenty of room to fall.
XRP
He thinks XRP is still headed to $0.50–0.70, with plenty of swings on the way, because every cycle plays out the same. He grants that FDV overstates the value of a thinly traded float and that a lot of XRP sits as collateral at Maple and institutional lenders, but still expects a slow grind back down. It's at $1.30 now, down from $1.57 a month ago and a $1.70 high over 90 days.
What confirms / kills it
Confirms: NEAR stays below $4.6 on daily closes; XRP breaks ~$1.00 (90-day low $0.99).
Kills: NEAR climbs back above $4.6 and then ~$5 (October's range); XRP gets back to ~$1.57.
He notes that shorts like these are hard to hedge with longs other than BTC and maybe ETH. HYPE has worked as a hedge but is showing weakness right now.
Thesis by @0xGeeGee. Price levels from Hyperliquid daily candles, Oct 25, 2026.
NEAR
XRP