XRP traded near $1.02 on August 11, pressing against a closely watched psychological and cost-basis support area after falling 4.65% over the past week. At the same time, futures open interest climbed to $2.72 billion, a sign that leveraged traders are building positions that the source characterizes as aggressive shorts. Exchange withdrawals also reached a five-year high, suggesting tokens are being moved off trading venues even as price weakens. Together, those signals point to a market balancing between bearish derivatives pressure and reduced exchange supply, making the $1.02 zone a key level to watch.