$XRP 多！The on-chain spot leverage long/short ratio has reached as high as 28:1, and in just half a day they’re still adding to positions—every buyer is a spot long order. This hand isn’t distribution; it’s accumulation. Someone says that when the lending side collapses by 90%, they call it a leverage rout—only the “borrowed money” speculative heat is being withdrawn. Spot longs still press against the shorts at 28 times upward. In the past hour the direction flipped red again, with price pinned above the double moving averages. The spot buying pressure and short-term momentum are moving in the same direction, and this round of shorts can’t catch the move.