Crypto Whale Bets Big on XRP Rebound with Massive Long Position

A significant development has taken place in the XRP market as a crypto whale has opened a massive 20x leveraged long position on Hyperliquid. The trader's move comes amid an XRP price dip, suggesting expectations of a rebound despite the recent market-wide correction.

The whale entered a 792,200 XRP long position at an entry price of $1.3564, which is currently underwater due to XRP trading below this price. However, the trader's portfolio includes multiple profitable positions elsewhere, including a 40x leveraged Bitcoin long position and a 10x leveraged HYPE position.

Analysts have pointed out that rising XRP open interest and heavy shorting could increase the chances of a short squeeze if XRP suddenly reverses upward. This setup may lead to leveraged short sellers being forced to close positions rapidly, potentially leading to price instability.