According to Onchain Lens, a whale address created a new wallet, deposited 630k USDC into HyperLiquid, and opened a 10x leveraged short position of 2.9 million XRP. This bearish move signals a negative outlook on XRP's short-term price and carries significant liquidation risk.
Whale Movement: USDC Deposit and XRP Short
On-chain monitoring tool Onchain Lens reported that a wallet address created a new wallet and deposited 630,000 USDC (approximately $630,000) into the decentralized trading platform HyperLiquid. Subsequently, the address used these funds to open a 10x leveraged short position of 2.9 million XRP. The move indicates a bearish stance on XRP's short-term price, and the high leverage amplifies the risk of liquidation. Traders should monitor XRP price action and the potential liquidation of this position.
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