Crypto Whale Holds $53M XRP Position for 46 Days with $13M Profit

An anonymous crypto whale has maintained a long position in XRP worth $53.11 million for 46 days, now holding more than $13 million in unrealized profit. The position, opened by the address “0x31…1434” on August 19, began with a $1.07 million investment at 20x leverage, giving it a notional value of $21.40 million. Despite XRP’s volatility over the past month, the whale has held firm, even as the asset experienced several rallies and pullbacks.

The whale initially entered the trade when XRP was priced at $1.0685, adding to the position the following day with another $556.9K at 20x leverage. This increased the total position to 30 million XRP, valued at $32.37 million at the time. On August 22, the whale made a third addition of $3.92 million at 2x leverage, bringing the total position to 35 million XRP with an average entry price of $1.1298.

At the current XRP price of $1.516, the position is now worth $53.11 million, yielding an unrealized profit of around $13.5 million. Notably, XRP peaked at $1.6977 on August 22, making the position worth approximately $59.4 million. The whale’s liquidation price stands at $0.9534, providing a buffer of over 36% below the current price. The address also holds $20.5 million in USDC, leaving room for further investment.

The whale’s strategy demonstrates confidence in XRP’s long-term performance, as the position remains the only active trade for this investor. The decision to hold through market fluctuations underscores a strong conviction in the asset’s potential.