The value of XRP longs on the leading exchange Bitfinex has risen above the 5 million-token mark again, marking a 3-week high.
This recent increase suggests that traders are becoming more willing to bet on a price recovery after a period of falling long exposure and continued selling pressure.
XRP Longs on Bitfinex Spike Above 5M Tokens
According to chart data, XRP longs on Bitfinex reached 5.088 million tokens on Oct. 20, worth more than $6.7 million at the prevailing price of $1.33 per XRP.
Although the figure has slipped slightly since then, it remains above 5 million, with the metric currently standing at 5.080 million XRP. The fact that these positions have remained above this level suggests that traders are holding on to their recent leveraged bets.
In addition, XRP has also avoided the sharp price swings that could force traders to close their futures positions, allowing the newly accumulated longs to remain in place, as market participants anticipate further price rebound.
Bitfinex XRP Longs Recover After September Decline
The latest increase in XRP longs on Bitfinex began on Oct. 13, following a sharp reduction in positions late in September and a steady decline in the weeks that followed.
Before that decline, Bitfinex XRP longs climbed to 7.539 million tokens on Sept. 22, reaching their highest level in 21 months. The last time the exchange recorded a similar amount was in January 2025. However, the rise in long positions did not last, as XRP came under heavy selling pressure the following day.
On Sept. 23, XRP fell 4.52%, triggering a sudden drop in long exposure. The metric lost 1.241 million XRP within 24 hours, marking one of its steepest daily declines in weeks.
XRP longs on Bitfinex recovered on Sept. 29, climbing above 6 million tokens. However, they failed to return to the Sept. 22 peak of 7.539 million XRP. The recovery also came as XRP’s price continued to decline, extending a downtrend that began on Sept. 26.
Despite the falling price, traders continued opening large long positions as they expected selling pressure to weaken.
However, XRP’s decline persisted into October, leading to another round of position closures that reduced the longs accumulated on Sept. 29. The metric then struggled to recover until the recent increase pushed it above 5 million XRP.
XRP’s Oct 20 Rebound Boosts Long Positions
The latest increase in Bitfinex XRP longs came as the XRP price recovered on Oct. 20. Specifically, XRP gained 2.44% during the day, closing above $1.33 after losing that level the previous week.
Although the gain was relatively small, it marked XRP’s largest intraday increase in a month. The move appears to have encouraged traders to open or maintain long positions as they bet that the rebound could continue.
Data from CoinGlass also shows that long positions have a slight advantage over shorts across the broader XRP derivatives market.
The 24-hour long/short ratio puts the value of XRP longs at $1.20 billion, accounting for 51.02% of total leveraged exposure. Shorts, meanwhile, amount to $1.15 billion, representing the remaining 48.98%.
However, sentiment differs across exchanges and trader groups. Retail traders and whales on Binance, OKX, and Bybit remain bullish to extremely bullish. In contrast, smart-money sentiment shows an extremely bearish outlook on Binance and Bybit. On OKX, smart-money sentiment remains extremely bullish.
XRP Price Levels to Watch as Recovery Continues
XRP bulls still hold a slight advantage, with the cryptocurrency gaining another 0.40% this morning. However, the recent recovery has yet to establish a clear upward trend. Traders will need to watch some key levels to determine whether the price can continue rising or return to its recent lows.
XRP remains below the middle Bollinger Band at $1.3877, which could provide the first major test for the recovery. If buyers push the price above this level, it will strengthen the case for a continued rebound and put the $1.40 mark in focus. A further rise could then bring the upper Bollinger Band at $1.5347 into the discussion.
On the downside, XRP’s first support level stands at $1.2857, which aligns with the descending trendline the cryptocurrency recently broke above during its recovery. Holding above this level would help preserve the recent gains. However, a move below the trendline may weaken the bullish outlook and expose XRP to further losses.
If the price falls below $1.2857, the next key support sits at the lower Bollinger Band at $1.24. A drop to this level could erase most of the long positions traders have added recently, especially if renewed selling pressure forces leveraged traders to close their positions.