After watching the altcoins in this round of decline, Ajian wants to single out XRP for discussion, because $XRP has dropped about 14% in a week, with a market cap evaporating over $13 billion; meanwhile, the funding rate has hit a one-year high, and spot ETFs have seen a net outflow of $10.4 million. Price down, funding rate up—this is a very typical scenario of bulls adding leverage during a decline. This structure is extremely fragile; if it falls another 5%, it will trigger a chain liquidation. Bulls are fleeing in panic while institutions happily hold the buy side. Would you dare to bottom-fish in this situation?