According to Techub News, Coinbase Markets data shows that about 97% of net long notional exposure in the XRP derivatives market entered above the current price of $1.31, with the largest net long exposure having an average entry price of about $1.40. Coinbase says most long positions are at a loss; if XRP falls further, leveraged traders may be forced to close their positions, potentially adding selling pressure. If the price rebounds, traders may continue holding or add to their positions. Coinbase also cited Glassnode data showing sizable net short exposure around $1.49–$1.50, with the largest negative exposure exceeding $20 million in notional value (U.Today).