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.
XRP community figure Xaif drew public attention to the trade, which he suggested was opened yesterday. Per the accompanying screenshot, the trader opened a $1 million long position on XRP at an entry price of $2.4093, totaling 416,736 tokens.
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.
Read more: thecryptobasic.com
Source: CRYPTO WORLD NETWORK NEWS
