Coinbase warns 97% of XRP derivatives longs set above $1.31 are underwater

Coinbase Markets has sounded the alarm on the XRP derivatives market, as a significant portion of bullish traders face mounting losses with XRP prices failing to rebound above crucial levels. Coinbase, one of the largest cryptocurrency exchanges in the United States, reported that 97% of XRP net-long notional exposure in its derivatives market has entry prices higher than the current XRP value of $1.31. This indicates that most traders holding long contracts are experiencing unrealized losses at present pricing. The largest concentration of these net-long positions was established at an average entry price of $1.40. As a result, traders in these positions would require a significant price recovery before moving into profit territory.

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