A previously dormant cryptocurrency whale has executed a massive leveraged long position on XRP worth $16.62 million.
The whale acquired 5,175,112 XRP tokens at an average price of $3.20 using 2x isolated leverage via derivatives platform Hyperliquid. The position features strategic limit orders placed between $3.2029 and $3.2061, indicating a calculated approach to entering the market during price fluctuations.
This substantial bet signals renewed institutional confidence in XRP’s potential amid current market conditions, establishing the $3.20 level as a key technical support point for traders to monitor. However, the position carries significant risk with a liquidation price near $1.6402 – approximately 50% below the entry price.
Market experts caution traders about the high-risk nature of leveraged positions given the proximity to this liquidation threshold, advising careful risk assessment despite the bullish sentiment displayed.