Hyperliquid Traders Bet Big on XRP's Ceiling

The top XRP traders on Hyperliquid are overwhelmingly bearish, despite the digital asset's recent surge. According to data from Cointelegraph, nearly all of the top 20 XRP traders by position size currently hold short positions.

Of the top 20 traders, 16 are short on XRP, with unrealized losses ranging from tens of thousands to hundreds of thousands of dollars. The largest position belongs to wallet 0x31b1..34, holding $50.12 million long with a +21.04% gain.

Most short positions opened between $1.22 and $1.52, suggesting that these traders believe XRP's move into the $1.40s represents a ceiling rather than a launchpad.

The data shows that many of these traders are absorbing significant unrealized losses waiting for their thesis to play out. As one observer noted, the total long exposure of $70 million against $77 million short makes the positioning closer to even than it appears.