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Share your trading journey | Discuss strategies | Grow with the Gate Family
⏰ Event Time: Nov 12 10:00 – Nov 19 16:00 UTC
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1️⃣ Follow Gate_Square + @discovery
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Renowned Trader Opens Massive XRP Short With 20x Leverage
The crypto market entered deeper bearish territory over the weekend, with high-risk traders opening massive shorts on major coins like XRP.
According to the data, the trader deployed a total position size of $196 million, employing 40x leverage on BTC, 20x on XRP, and 10x on ZEC. The positions break down:
The move comes amid heightened market fear after Bitcoin dipped to $92,900 over the weekend, with the crypto Fear & Greed Index hitting 10—the worst level since 2022.
“XRP Could Fall to $0.20”
Among the positions, the 20x leveraged XRP short stands out, especially as sentiment around the token continues to weaken. XRP’s price dropped 11% over the past week, trading at $2.27 despite the launch of ETFs.