Trump’s Crypto Reserve Plan Triggers Massive Losses for XRP Short Seller

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.

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Deyan Angelov

Active crypto trader who also follows news related to stocks, the S&P 500, and gold. Deyan enjoys staying physically active, trains regularly, and practices calisthenics. He also likes reading sci-fi books when he has the time.