Hyperliquid Whale Bails Out as Price Holds Firm at $1.44

A significant trader on Hyperliquid has been forced to buy back approximately 450,000 XRP tokens from the market at $1.44 after a short position went against them.

The trader, operating under the address '0x9c2a...f6a8' and with an internal rating of Grade D, reduced their short position from 2.42 million to 1.96 million XRP through four consecutive orders in a narrow price range around $1.44.

The trader's actions were not a planned exit, but rather an emergency buy to cover the short position and preserve remaining margin as the price held firmly at this key level.

XRP has been showing signs of strength, with a powerful V-shaped rebound breaking through its 200-day moving average (MA) and reaching $1.65 before consolidating at $1.44.