Coinbase Warns of XRP Long Position Risks

Coinbase Markets has warned about the XRP derivatives market as a huge number of underwater bullish positions emerge, with XRP struggling to pick up again. An insane 97% of XRP net-long notional exposure was set at prices higher than the current XRP market price of $1.31, according to the exchange. The largest cluster of net-long exposure was set at an average entry price of around $1.40, meaning that a majority of the current remaining bullish market exposure is currently underwater. Traders could either add more to their bullish bets in hopes of a market recovery or fold out of those positions to prevent further losses. Now that XRP is falling further, some traders might feel forced to exit those positions, especially if using leverage.

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