Data from Hyperliquid shows that up to 96.1% of XRP long positions were opened above the current price, leaving most traders underwater. Between October 13 and 15, 2026, XRP traded in a range of $1.28 to $1.50 before settling around $1.30 to $1.34. OKX open interest fell 29.7% between September 22 and October 14, yet the long/short ratio climbed to 3.6:1, indicating persistent bullish conviction despite losses. A drop below the $1.28 support level could trigger cascading liquidations given the concentration of long positions, with one notable $47 million position opened near $1.13 remaining profitable through the turbulence.
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