Despite the slight rise of XRP to $2.90, the famous trader "Falllling" continues his high-leverage bearish bets, incurring heavy losses exceeding $3.6 million.
Key Developments:
· Opened a new short position worth $17.6 million on XRP with 20x leverage.
· The position faced partial liquidation, leaving $14.3 million on the edge of liquidation at $2.93.
· This follows a previous loss of 3.4 million dollars from similar trades on Bitcoin and XRP.
Imminent risks:
· Any slight increase in XRP above 2.93 dollars could lead to the complete liquidation of its position.
· Analysts warn that high leverage strategies quickly amplify losses when liquidation thresholds are very close to the market price.
Wider market picture:
· The market has seen collective liquidations amounting to 357 million dollars, most of which were from short selling positions.
· The "Falllling" decision shows continued bearish skepticism among some traders despite the market recovery.
