New Whale Wallet Opens $16.6M XRP Position With Leverage Amid Market Uncertainty
Main Idea
A previously inactive whale wallet opened a $16.62 million leveraged long position on XRP at around $3.20, signaling strong bullish sentiment amid current market conditions.
Key Points
1. The whale wallet acquired 5,175,112 XRP tokens at an average price of $3.20 using 2x isolated leverage on Hyperliquid.
2. The position reflects a calculated approach, with limit orders placed between $3.2029 and $3.2061 to capitalize on price fluctuations.
3. The liquidation price is near $1.6402, posing a significant downside risk if XRP's price drops by nearly 50%.
4. The move signals renewed confidence in XRP's potential, with the $3.20 level acting as a key support for traders to monitor.
5. Experts advise cautious optimism due to the high-risk nature of leveraged trading and proximity to the liquidation price.
Description
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