Crypto Whales Bet Big on XRP and ETH Fall: What Do They Know That We Don’t?
A crypto whale has made a bold move into the altcoin market, opening large short positions on Ethereum (ETH) and Ripple (XRP), using high leverage – a move that has investors intrigued.
A Surprise Attack on XRP and ETH
According to the latest data from on-chain analytics platform OnChain Lens, a major whale has just transferred $4.4 million in USDC to decentralized exchange HyperLiquid, setting up aggressive short positions with double-digit leverage on two major altcoins: Ethereum (ETH) and Ripple (XRP).
Specifically, the ETH short position has been multiplied by 20x, currently worth around $19 million, indicating that the whale is betting heavily on the possibility of ETH falling further. ETH is estimated to have to surpass $3,000 to liquidate this position – a significant increase from its current price.
As for XRP, the $11 million, 8x leveraged short position is only threatened if XRP suddenly breaks $3.45 – above its all-time high set over seven years ago.
Are XRP & ETH at the Top?
This sudden “short” move raises the question: Are whales seeing something the rest of the market hasn’t yet?
According to data from CoinGlass, in the last 24 hours, XRP longs have been liquidated by $12 million, while shorts have lost less than $1 million – suggesting that bulls are struggling to maintain momentum.
However, technical indicators paint a mixed picture. The Chaikin Money Flow (CMF) indicator on XRP has remained positive since May 9 – indicating that money is still pouring into XRP, mainly from large investors.
Despite this, XRP is currently trading around $2.46, below the key support level of $2.88 established during the March rally. This reflects a clear wait-and-see attitude, especially in light of policy developments such as the RLUSD stablecoin legislation and the SEC’s ETF decision.
Why the Market is Excited
Investors are pinning their hopes on May 19, 2025, when XRP Futures are officially listed on the CME – a milestone that could completely change the market landscape.
In addition, both ETH and XRP are attracting attention from major financial institutions following positive regulatory developments, bringing them closer to being considered legal securities.
Conclusion
While whales are betting heavily on a correction in ETH and XRP, market signals are still lacking. The CME event and regulatory action could be the next big catalysts, and investors should keep a close eye on them in the coming days.