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

An unidentified whale has maintained a long position in XRP worth $53.11 million for 46 days, accumulating over $13 million in unrealized profits. The investor, using the address “0x31…1434,” initially opened the position on August 19 at 4 PM UTC with $1.07 million in capital and 20x leverage, giving it a notional value of $21.40 million. The move came as XRP began recovering after a period of selling pressure, entering the trade at $1.0685.

The whale expanded the position the following day by adding $556.9K at 20x leverage, increasing the notional value to $10.97 million. By August 22, the investor further boosted the position with $3.92 million in capital and 2x leverage, bringing the total XRP held to 35 million at an average entry price of $1.1298. The cumulative margin for the position stood at $5.31 million with 10x leverage.

With XRP currently trading at $1.516, the position’s notional value is $53.11 million, resulting in an unrealized profit of around $13.5 million. The position peaked in value on August 22 when XRP reached $1.6977, making the trade worth approximately $59.4 million. Despite this, the whale chose to hold the position, which remains open with a liquidation price of $0.9534, providing a buffer against further declines.

The address also holds $20.5 million in USDC in its spot balance, suggesting substantial liquidity for additional trades or further investment in XRP. The whale’s decision to maintain the position for 46 days underscores confidence in XRP’s long-term performance, despite market volatility.