New Hyperliquid Wallet Opens First-Ever XRP Trade With 20x Leverage as Bullish Bets Grow

A newly created Hyperliquid wallet has drawn attention after opening its very first trade: a massive leveraged $XRP long position.

Specifically, the position is worth more than $1 million. $XRP community figure Xaif shared the trade details on X. He revealed that the wallet deposited funds and immediately opened an 810,040 $XRP long position at an entry price of $1.3348 using 20x leverage.

The position carries a notional value of roughly $1.08 million, making it one of the larger $XRP directional bets currently attracting attention on Hyperliquid.

“What does he know that we don’t?” Xaif asked.

Key Points

A new Hyperliquid wallet opened its first $XRP trade with a massive $1.08M long using 20x leverage.

The whale’s $XRP position reflects growing bullish sentiment despite recent market volatility and weak momentum.

Hyperdash data shows the trader holds only $XRP longs, with a liquidation price near $1.2090.

Rising leveraged $XRP bets come as traders speculate $XRP could follow $XLM’s explosive rally.

Whale Makes High-Risk $XRP Bet

The Hyperdash screenshot shared alongside the post showed the wallet maintaining an extremely bullish directional bias. Specifically, 100% of its active exposure is allocated to long positions. The account is newly active, with just one open position tied entirely to $XRP.

Data from the dashboard showed the trade sitting at a small unrealized loss of around $1,108 at the time of the screenshot, with $XRP trading slightly below the entry level.

The position also had a liquidation price near $1.2090, highlighting the risks of using 20x leverage in volatile crypto markets.

Despite the aggressive setup, the wallet still retained over $52,000 in free margin, suggesting the trader may have additional room to manage short-term price swings.

Wallet Performance Raises Questions

Interestingly, the Hyperdash data also showed the account posting heavy losses overall. It has an all-time PnL loss of more than $1.1 million and a 30-day perpetual trading loss exceeding $1.3 million. The wallet displayed a win rate of just 22.3% across 283 trades.

Notably, the whale trade emerged as $XRP price rebounded alongside the broader crypto market. $XRP is currently trading around $1.31, up roughly 2% over the past 24 hours.

The move has fueled speculation that large investors may be positioning for a stronger upside move after weeks of price weakness.

More Whales Betting on an $XRP Rebound

Just two days ago, a crypto whale opened a 20x leveraged $XRP long on Hyperliquid during $XRP’s dip to around $1.30. The trader entered a 792,200 $XRP position at $1.3564, worth over $170,000.

Some $XRP traders also believe the growing number of high-leverage long positions could signal expectations of a breakout if bearish momentum fades.

One factor fueling this speculation is the ongoing rally in $XRP’s core rival, $XLM. Over the past week, $XLM has surged 41%, including a 22% daily jump. This has sparked speculation that $XRP could follow due to the historic price correlation.

Some analysts believe $XRP could see a delayed breakout, with June targets ranging from $1.76 to $2 if momentum strengthens. However, $XRP’s weaker momentum and lack of a strong catalyst continue to raise doubts about whether it can match $XLM’s rally.