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$154M XRP Short Sparks Market Buzz on Hyperliquid
XRP – A high-risk play has captured the attention of the crypto market as a well-known trader returned to Hyperliquid with $4.2 million in USDC, immediately deploying it into leveraged short positions. The focus quickly turned to XRP, although Bitcoin was also targeted.
Massive XRP Short Draws Eyebrows
According to Lookonchain, the trader opened a short position of 2.78 million XRP, representing about $7.5 million in margin. Using 20x leverage, the total notional exposure surged to over $154 million. The average entry price was around $2.71 per XRP, coinciding with the token testing the lower bound of its recent trading range.
The liquidation price highlights the inherent risk: if XRP rises to $3.06, the position could be forcibly closed, potentially wiping out millions in collateral. With XRP’s price fluctuating between $2.70 and $3.70 since August, the trader has minimal margin for error—just 13% away from liquidation.
BTC Shorts Also in Play
The same wallet is also shorting 1,366 BTC with 40x leverage, although the potential squeeze on XRP is far more dramatic. Should XRP breach $3, the market could witness a rapid liquidation cascade, making this a situation closely watched by traders across the ecosystem.
Market Watches with Bated Breath
The stakes of this move are amplified by XRP’s volatile 2025 performance, leaving the crypto community eager to see if this high-risk player can navigate the tight margins or if they will become the next headline in massive liquidation news. Traders and analysts alike are keeping a sharp eye on this position, aware that the next few price movements could have significant implications for both the trader and the broader market sentiment.
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