Confusing short position from a crypto whale as XRP drops

According to the data from the crypto analysis platform Onchain Lens, an unknown crypto whale opened two short positions with 8x leverage on XRP and 20x leverage on Ethereum on the decentralized trading platform called HyperLiquid. The total size of these transactions was recorded as 4 million 400 thousand dollars.

According to the data analysis platform CryptoQuant, there were intense sell-offs of XRP on Tuesday. However, it is noted that these sales have been absorbed in the market and this situation could be a precursor to a potential upward breakout for XRP. On the other hand, the short position opened by the HyperLiquid whale is interpreted as a signal of a possible decline among investors.

According to CoinGlass data, approximately 8 million dollars worth of XRP positions were liquidated in the last 24 hours. Of this, 5 million 800 thousand dollars were comprised of long (long) positions.

On the other hand, the open position size of XRP futures has increased to 5 billion 500 million dollars, showing a significant increase over the past week.

Published: May 15, 2025 12:30