Trader Opens Massive $1,000,000 XRP Long Position

A trader on the Hyperliquid derivatives trading platform has shown optimism in XRP’s near-term potential by opening an XRP long position of $1 million

The anonymous trader opened the position with a 10x leverage as part of efforts to amplify potential gains Such large leveraged positions often indicate strong bullish sentiment or expectations of an imminent price rally

Notably, traders holding long positions in XRP at the time suffered liquidations totaling approximately $615 million. In contrast, short traders who bet on a price decline recorded a smaller loss of about $92 million.

Community figure Chad Steingraber referred to this wipeout as a “Black Swan Moment” for XRP. Meanwhile, since that liquidation event, XRP has bounced back above $2, giving leveraged traders, including the user who opened a $1 million long position, confidence to bet on a potential price spike

XRP Liquidations

In the meantime, around $2.44 million XRP leveraged positions have been wiped out over the past 24 hours. Long positions account for $1.29 million of the total liquidations, while shorts account for $1.15 million

Total XRP LiquidationMeanwhile, if XRP dips to $2.349, roughly $56.33 million worth of long positions could be wiped out. However, $59.91 million in short positions would be liquidated if XRP’s price spikes to $2.541

Potential XRP liquidation