According to data from Onchain Lens, a prominent and highly active trader on Hyperliquid has reemerged, now taking a substantial long position in XRP valued at $30 million. This particular whale gained notoriety last December after offloading 255 BTC on-chain before aggressively shorting both BTC and ETH.
In a dramatic turnaround, the trader has reversed course entirely by leveraging 20 times to go long on XRP with an investment totaling approximately $30,043,987.
Previously in December, this wallet divested itself of 514 BTC that had been held for over a year. It sold 255 BTC for $21.8 million and subsequently allocated those funds into shorts worth $80.2 million in Bitcoin and $2.1 million in Ethereum. This strategy resulted in significant profits, boosting the total PnL to around $8,283,137.
This latest maneuver forms part of an extensive long portfolio valued at roughly $328 million distributed across four key cryptocurrencies: 1,247 BTC (approximately $112.8 million), 37,414 ETH (about $115.6 million), 503,778 SOL ($69.8 million), and over 14 million XRP tokens.
Assessing the Risk
Despite employing high leverage—averaging more than 10.8x across all positions—the whale has not added any extra margin so far; their withdrawable balance stands at zero indicating full commitment of capital.
The Bitcoin holdings currently show a modest gain of about 2.58%, whereas positions in Ethereum, Solana (SOL), and XRP are experiencing losses with SOL being the most affected at nearly $386K down. The entry price for XRP was around $2.1027 which is slightly above today’s market price near $2.1004—suggesting that this purchase occurred during a brief price spike.
The liquidation threshold for the XRP stake remains very low at approximately $0.༯, which is more than eighty percent below its current trading value—highlighting the investor’s tolerance for risk exposure.
This strategic shift towards altcoins like XRP indicates anticipation of an upward breakout rather than simply reallocating assets passively within crypto markets; whether it reflects speculation on volatility or preparation ahead of upcoming catalysts remains uncertain—but clearly this whale is now fully invested with bullish intent.