After successive increases, there was a clear repulsion. CryptoQuant, a chain-based and derivative data platform, states that the currency has been recorded as XRP's strongest derivative sales pressure since 2026, with net active sales of approximately $96 million. Short-line fluctuations are further amplified by the multiplicity of leverage in the price fall.
The cumulative growth of the XRP in the last two weeks was close to 70 per cent, rising to about US$ 1.70, a high level since January this year. With the rapid upswing in prices and the simultaneous upswing in futures markets, the number of open contracts increased by over 34 per cent, from about $3.45 billion to $3.66 billion. CryptoQuant Analyst Darkfost also mentioned that the leverage ratio of coins rose to 0.21 and was nearly seven months high.
When the lever warms, the pressure is released.
During the price boom phase, more traders increased their leverage position. The vulnerability of the derivatives market was rapidly exposed as the XRP began to fall. The data show that net active value of money is down to about $96 million, which usually means that there has been a significant increase in the active sales.
After the increase in sales pressure, large leverages were forced to flatten, further exacerbating the downward pressure and creating multiple squeezes. When XRP returned to the vicinity of US$ 1.43, approximately US$ 20 million was liquidated. Darkfost therefore believes that the XRP is facing the strongest derivatives out of 2026.
Net United States current ETF maintained inflows
Despite the pressure on the derivatives market, spot capital has not significantly weakened. The United States current XRP ETF recorded a net inflow of nine consecutive trading days as at 26 August, with a new inflow of $28.14 million on the latest.
Based on cumulative data, the related ETF total net inflows are close to $1.62 billion. Of that amount, the XRP ETF of Bitwise received $13.12 million a day. The continuing inflow indicates that part of the funding continues to be channelled through compliance product configurations rather than full evacuation.
Short-line focus near $1.40.
Current market concerns have shifted to a line of $1.40. If the purchase is able to continue to carry the pressure, some of the empty space may have to be replaced, at a price or with new support. On the contrary, if this position is lost, the pre-leveraging silo pressure may continue to be released.
Overall, the XRP short-line is in a period of “still strong inflow and faster deleveraging of derivatives”. ETF funds are supporting, but the availability of high leverage positions remains the main source of price volatility.