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.
-
1
SUI Gains Institutional Backing With 21Shares ETF Bid
02.05.2025 16:00 1 min. read -
2
Pi Coin Makes an Explosive Comeback After Mystery Announcement
12.05.2025 19:00 2 min. read -
3
Trump Memecoin Frenzy Enriches Few, Leaves Thousands in the Red
09.05.2025 9:00 2 min. read -
4
Ethereum Price Forecast: Will ETH Rise to $4,000 After Pectra?
13.05.2025 23:35 3 min. read -
5
Quick Flip Nets Trader Six-Figure Profit From Memecoin Bet
02.05.2025 8:00 1 min. read
Bitcoin and Ethereum ETFs See Over $1 Billion in Daily Inflows
Institutional interest in crypto appears to be reigniting, with U.S.-based spot Bitcoin and Ethereum ETFs collectively pulling in over $1 billion in net inflows on Thursday—marking their strongest daily performance since January.
Solana Traders Score Multi-Million Gains from Tiny Investments
A little-known token in the SocialFi space is making waves after delivering astronomical returns to a handful of early backers.
Ethereum Price Prediction: ETH Could Explode to $4,000 After this Buy Signal
Ethereum (ETH) has surged by 4.5% in the past 24 hours and currently sits at $2,650. The top altcoin has emerged as the best-performing cryptocurrency of the top 5 in the past 30 days with gains of 62.1%. Interestingly, although Bitcoin (BTC) has surged to all-time highs, ETH has not followed its pace and it […]
Binance Announces 70th Launchpool Project with Token Farming Starting May 23
Binance has selected Huma Finance as the latest project to debut on its Launchpool, introducing a decentralized platform focused on enabling instant liquidity for digital payments and global transactions.
-
1
SUI Gains Institutional Backing With 21Shares ETF Bid
02.05.2025 16:00 1 min. read -
2
Pi Coin Makes an Explosive Comeback After Mystery Announcement
12.05.2025 19:00 2 min. read -
3
Trump Memecoin Frenzy Enriches Few, Leaves Thousands in the Red
09.05.2025 9:00 2 min. read -
4
Ethereum Price Forecast: Will ETH Rise to $4,000 After Pectra?
13.05.2025 23:35 3 min. read -
5
Quick Flip Nets Trader Six-Figure Profit From Memecoin Bet
02.05.2025 8:00 1 min. read