Trump’s Crypto Reserve Plan Triggers Massive Losses for XRP Short Seller
03.03.2025 15:20 1 min. read
Donald Trump’s announcement of a US Strategic Cryptocurrency Reserve has triggered a major shake-up in the market, causing trouble for a crypto whale holding a highly leveraged short position on XRP.
On-chain analytics from Lookonchain reveal that the trader, who had a 20x short on XRP, scrambled to avoid liquidation after Trump’s statement.
In an attempt to keep the position afloat, the whale injected an additional $8 million in USDC, but the losses have already mounted to $4.6 million.
The wallet in question currently holds $16 million in futures and $5 million in spot positions. While the trader is long on BTC, ETH, and SOL, they have bet against XRP, ADA, DOGE, SUI, and HYPE.
The market reaction following Trump’s crypto endorsement appears to have intensified volatility, putting aggressive leveraged trades at risk.
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