TLDR
- An XRP whale lost $28.2 million after long positions were liquidated near the $1 price level.
- The trader used around 10x leverage and held nearly 28 million XRP across multiple positions.
- XRP’s drop from $1.11 to around $1.009 triggered consecutive liquidations on both positions.
- The same trader lost an additional $47.5 million from liquidated Bitcoin positions.
- Total forced liquidations for the whale reached approximately $75 million across XRP and Bitcoin.
A large leveraged trader faced heavy losses as XRP price dropped near the $1 level during a market decline. Data from Hyperbot shows the trader lost $28.2 million on XRP long positions after prices crossed liquidation levels. The same trader also lost funds on Bitcoin positions, bringing total liquidations to about $75 million.
XRP Whale Faces Forced Liquidations as Price Drops
The XRP Whale opened multiple leveraged long positions when XRP traded near $1.11. The trader used around 10x leverage and spread exposure across several entries to manage risk. Trading data shows the whale held 5.58 million XRP with a liquidation price of $1.0194. The trader also held 22.33 million XRP with a liquidation price of $1.0092.
Together, these positions totaled nearly 28 million XRP before the market decline triggered liquidations. As selling pressure increased, XRP fell toward the trader’s liquidation levels. Once XRP reached $1.0194, the exchange closed the first position automatically. Shortly after, the price continued to fall and reached $1.0091, which forced the second position to close.
The trader also held leveraged Bitcoin positions that faced liquidation during the same period. Those positions resulted in an extra $47.5 million in losses. As a result, the total liquidation value reached about $75 million across both assets.
Market Decline Drives Over $1 Billion in Liquidations
The broader crypto market recorded over $1.07 billion in liquidations within 24 hours. Long positions accounted for $842 million of those liquidations across major exchanges. Short positions represented about $223 million during the same period.
XRP contributed about $43.96 million in total liquidations during this market movement. Long positions made up $43.12 million of that figure, while short positions reached around $841,900. These figures show that long traders faced the most losses during the decline.
The XRP Whale’s account balance dropped after the forced liquidations reduced total holdings. Data indicates cumulative losses reached about $8.2 million after recent trades. The account now holds roughly $1.6 million following the liquidation events.
XRP Price Shows Minor Recovery After Sell-Off
Following the liquidation wave, XRP recorded a modest recovery in price. The token climbed back to around $1.03 after touching lower levels during the decline. Market data shows XRP gained about 4.71% over the past 24 hours.
The rebound occurred as buyers returned after the sharp drop in price levels. However, the earlier decline triggered multiple liquidations across leveraged traders. The recent price level reflects a partial recovery after the earlier sell-off pressure.
