A sizable long position in XRP suffered a partial liquidation exceeding $4 million as market volatility intensified, although the holder maintains a significant stake.
The forced exit occurred when the price of XRP dipped below the $3.18 mark. This triggered the liquidation of a portion of a highly leveraged 20x position, resulting in a loss of $4.12 million.
Despite this substantial hit, the unidentified whale wallet continues to hold a vast position of 593 million XRP, valued at nearly $19 million. Data indicates the trader actively adjusted their exposure multiple times within minutes, suggesting tactical management.
Market-wide pressure saw long liquidations surpass $45.8 million during the same hour, with the XRP position accounting for over $4 million of these losses. Notably, the trader opted to double down after an initial loss exceeding $100,000.
This aggressive strategy indicates high stakes, with the liquidation price for the remaining position now approaching $3.108. The event underscores the amplified risks inherent in leveraged trading; while leverage can magnify gains, positions with high leverage like 20x become extremely vulnerable to rapid forced exits during unexpected price movements.