Recent data published by Coinbase Markets has drawn attention to a deeply imbalanced XRP derivatives landscape. The current spot price of XRP is $1.31, falling well below where most bullish p
Recent data published by Coinbase Markets has drawn attention to a deeply imbalanced XRP derivatives landscape. The current spot price of XRP is $1.31, falling well below where most bullish positions were originally entered. This divergence has brought the condition of net-long XRP exposure into sharp focus.
Net-short exposure in XRP is concentrated heavily around the $1.49 and $1.50 price levels, with the largest cluster exceeding $20 million in notional value. At the same time, the bulk of net-long positioning was established at an average entry price of $1.40, a level that now sits approximately 7% above where XRP currently trades.
Coinbase Markets reports that 97% of net-long notional exposure in XRP was opened at prices above the current spot price. The data is sourced from Glassnode’s net entry-price heatmap, binned around spot, and reflects market conditions as of October 15.
The largest cluster of net-long $XRP positions entered at $1.40.
Spot: $1.31.
That means 97% of net-long notional was entered above today’s price.
Do they add or fold? pic.twitter.com/oqVtsxivW7
— Coinbase Markets (@CoinbaseMarkets) October 15, 2026
The 97% figure requires some important context. It does not represent the broader population of XRP holders or suggest that nearly all XRP investors are at a loss. The metric applies specifically to net derivatives exposure. Glassnode’s methodology determines this by calculating the difference between outstanding long and short positions at each price level.
A positive result at a given price means long positioning exceeds short positioning at that level, while a negative result indicates the opposite, with shorts dominating the market. Additionally, the entry prices visible in the chart should not be interpreted as liquidation thresholds.
The point at which any individual trader is forced to close a position is determined by their specific leverage ratio, margin level, and available collateral.
The current positioning structure carries meaningful consequences for XRP’s short-term price behavior. Traders holding leveraged long positions that are now underwater may face increasing pressure to exit to contain losses. A wave of such closures could generate additional selling pressure, creating conditions where declining prices force further position exits.
However, a price recovery would alter that dynamic considerably. If XRP moves back toward or beyond the $1.40 level where the largest concentration of long positions was entered, traders may elect to hold or expand their exposure. The direction XRP takes from its current level will determine how the majority of these outstanding positions are ultimately resolved.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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