[Futures trader picks] XRP dollar-margin long accounts rise 4.97 percentage points

XRP led the increase in the share of dollar-margin accounts holding long positions, rising 4.97 percentage points. BTC and ETH also recorded increases, while changes in position-based long shares were smaller.

Data for October 23 showed BTC's dollar-margin long position share rose 1.3 percentage points from the previous day to 61%. SOL increased 0.53 percentage points to 69%. Changes for the remaining assets were also below one percentage point.

In coin-margin contracts, ETH's long position share increased 1.82 percentage points to 80%, while XRP rose 1.46 percentage points to 83%. Changes for the other assets were below one percentage point.

The larger dollar-margin shifts appeared in account-based measures. XRP's long account share climbed 4.97 percentage points to 79%, the largest increase among the five assets. BTC rose 3 percentage points to 69%, and ETH gained 1.83 percentage points to 74%. SOL increased 1.14 percentage points to 76%, while DOGE fell 0.27 percentage points to 78%.

Coin-margin long account shares showed smaller changes. ETH rose 1.06 percentage points to 81%, BTC gained 0.98 percentage points to 79%, and XRP increased 0.92 percentage points to 87%. DOGE rose 0.66 percentage points to 92%, while SOL slipped 0.07 percentage points to 86%.

[Editor's note]Position-based and account-based measures offer different views of long exposure. The share of accounts holding longs should be read alongside the position-based share when assessing the concentration of bullish positioning.

Dollar-margin and coin-margin readings also differed. Across the five assets, coin-margin long position shares ranged from 71% for BTC to 85% for SOL, compared with dollar-margin shares ranging from 61% for BTC to 75% for DOGE.