$XRP Short Position Surges to Over $10 Million Amid Price Volatility

Market-making firm Wintermute has significantly increased its bearish exposure on Hyperliquid and $XRP, according to on-chain data tracked by Onchain Lens.

The firm's total short exposure has experienced a very sharp increase. Its top five short positions include Ethereum, Bitcoin, Solana, Hyperliquid's native HYPE token, and $XRP.

Wintermute's $XRP short is currently valued at more than $10 million.

The data also shows that Wintermute's overall short exposure has increased by roughly $45 million since its previous update. However, the firm's tracked positions are sitting at a combined unrealized loss.