XRP Bear Targets Liquidation at $1.78 Million Notional Bet

A large investor has taken a significant short position against XRP, betting that its price will drop. The trader's wallet is 100% short-biased with no open long positions, and it holds an impressive track record of a 70% win rate across 92 transactions.

The total position now sits at $2.18 million notional with $436.4K in margin, and the liquidation price is set at $1.7760. The investor opened this short on August 23 at an entry of $1.5157, with the average entry price now sitting at $1.5140.

XRP's recent price movement has been sharp, surging over 50% to about $1.51 after bottoming near $0.9862. This rally drew fuel from multiple sources, including the US Treasury announcing it would double its long-term bond buyback operations and a White House crypto summit attended by Ripple's CEO.