The latest data from Coinglass shows that traders are shorting XRP at a pace far surpassing other major assets. Despite facing pressure, the asset has remained unexpectedly resilient and even posted gains in the past day. According to data shared by Coin Bureau, traders have a strong bias toward shorting mainstream cryptocurrencies, but this imbalance is most severe in a few specific assets. The breakdown for XRP shows that Bitcoin has $131 million in short positions and $70 million in long positions. Meanwhile, Ethereum has $110 million in short positions and $58 million in long positions. SOL has $34 million in short positions and $13 million in long positions. However, XRP has $15 million in short positions versus just $600,000 in long positions, making short positions account for nearly 96% of total open interest, with long positions only making up 4%. This is one of the most skewed position ratios in the market, with shorts outnumbering longs by approximately 25 to 1. These data indicate that as XRP attempts a recovery, traders are placing extremely aggressive short bets on the asset.

Wu said, according to CoinShares, digital asset investment products saw inflows of $716 million last week. Total assets under management (AuM) rebounded to $180 billion, but still remain well below the all-time high of $264 billion. Bitcoin saw inflows of $352 million, while XRP and Chainlink recorded inflows of $245 million and $52.8 million respectively. Short Bitcoin products saw outflows of $18.7 million.