Anonymous Large Wallet Initiates Long Position of 5.17 Million XRP with Liquidation Price at $1.64
On the blockchain tracking platform Hyperliquid, an unidentified wallet has suddenly entered a large long position in XRP, drawing market attention. The wallet purchased 5,175,112 XRP in three transactions at around $3.20, with a total transaction amount of approximately $16.62 million. The leverage was set at 2x isolated, with a liquidation price of $1.6402, indicating a high-risk strategy.
Interestingly, this wallet address has no previous transaction history, suggesting either a new institutional investor's entry or an existing whale using a separate wallet for a new strategy.
Currently, the wallet also holds Solana (SOL), with a total asset value of around $22.7 million. The XRP position is currently showing an unrealized gain of about $87,227, while the Solana position shows an unrealized profit of $9,672. However, both positions have accumulated funding costs exceeding $21,500, eating into the profits.
The timing of the XRP position entry is particularly noteworthy. The purchase at around $3.20 was executed when the market formed an intermediate support line and showed a brief pullback. Previously, large limit orders at $3.44-$3.45 were not filled, and subsequently, the wallet quickly entered using a market order.
XRP is currently trading around $3.21, almost exactly matching the average purchase price. This price level corresponds to the midpoint of the daily Bollinger Bands, drawing significant interest for potential future direction.
While the liquidation price is about 50% lower than the current market price, the large entry size means the entire position could be wiped out instantly if a deep correction occurs. Nevertheless, if XRP maintains a short-term upward trend, the investor can expect substantial profits.
It remains to be seen how this large position will impact XRP's price movement and market sentiment.
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