Most net-long XRP positions sit above the current price, leaving traders underwater

XRP traders who bet on higher prices are mostly losing money right now. Data from Hyperliquid perpetual futures trackers shows that up to 96.1% of XRP long positions were opened above where the token currently trades.

A post on X flagged the same pattern, noting that most net-long XRP positions were entered above the current price.

A volatile few days for XRP

Between October 13 and 15, 2026, XRP traded in a range of approximately $1.28 to $1.50. It then settled somewhere around $1.30 to $1.34.

As of October 15, the token’s 24-hour range ran from $1.28 to $1.39.

There is one notable exception. A large long position worth approximately $47 million was opened at around $1.13, and it has stayed profitable through the recent turbulence.

Derivatives data paints a mixed picture

On OKX, XRP open interest fell by approximately 29.7% between September 22 and October 14. The count dropped from 150.4 million contracts to 105.7 million.

Yet the traders who remain are leaning heavily bullish. The long/short account ratio reached 3.6:1 by October 14, meaning 360 accounts were long for every 100 short. That reading was the highest since mid-August 2026.

The coin-margined long-position share among top traders climbed to 84.2% by October 14, up 4.8 percentage points. Coin-margined contracts use XRP itself as collateral rather than a stablecoin. That setup amplifies exposure, because a falling price hits both the position and the collateral backing it.

Why the positioning matters

With up to 96.1% of Hyperliquid long entries above spot, further declines could trigger liquidations. Each forced sale adds selling pressure, which can push prices lower and threaten the next batch of positions. The 3.6:1 long/short ratio suggests there is plenty of long exposure available to unwind if things go wrong.

Broader market context suggests continued inflows into XRP exchange-traded funds and declining exchange reserves, which hints at ongoing demand outside the leveraged futures market.

XRP’s recent low sat around $1.28, and a break below that zone could test how much margin these accounts actually have. Accounts with deeper pockets and better entries, like the $47 million position opened near $1.13, have more room to ride out swings that would wipe out smaller players.