XRP has seen over $2.16 billion in fresh long positions opened recently, while the price has dropped more than 6% this month and broke below the critical $1 level. Institutional flows remain weak for XRP, with just over $3 million in net inflows for its ETFs in August, compared to over $2 billion for Ethereum. Ripple’s stablecoin RLUSD was the fastest-growing asset over seven days, adding $132 million. If bulls fail to reclaim the $1 level, leveraged positions could quickly turn into a short-covering squeeze, raising the risk of a drop toward $0.98.
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