According to a report from Odaily Planet Daily, citing on-chain data analytics platform Onchain Lens, a whale address has opened a significant long position on XRP within the past four hours. The position, valued at approximately $30.9 million, consists of 27.9 million XRP tokens and employs 20x leverage. In addition, this whale currently holds a long position on 809.9 Bitcoin (BTC), also with 20x leverage, worth roughly $50.6 million. The BTC long position was established earlier and is now facing a floating loss exceeding $2.6 million.
The combined notional exposure of the whale's long positions on both assets exceeds $80 million ($30.9 million in XRP + $50.6 million in BTC). This floating loss illustrates the amplified sensitivity of high-leverage trades to market price fluctuations. Onchain Lens, the source of this data, specializes in monitoring large on-chain holdings and leveraged positions. Given the scale of the whale's operations, this is considered typical whale activity in the crypto market, highlighting the importance of risk management under high leverage.
The data was initially reported by Odaily Planet Daily, a Chinese crypto news outlet. Onchain Lens continues to track such large positions, providing transparency into the movements of major market participants.