Amid the latest market dip, some participants are again writing off XRP, as they open massive short positions.
Lynk, a widely followed crypto trader on X, is among the latest to disclose a significant short position on XRP.
In a tweet earlier today, Lynk revealed that he has placed a $500,000 bet that XRP’s price will not rise from its current levels. This comes as XRP’s price once again threatened to drop below the $3 mark in the past 24 hours. The coin fell by 5%, from $3.16 to $3.01, before rebounding.
“It’s Over for XRP”
Notably, XRP’s price decline followed the Federal Reserve’s decision to hold interest rates steady despite improving economic data. The decision sent Bitcoin tumbling and dragged the broader altcoin market down.
Amid the dip, Lynk expressed skepticism about any near-term recovery. He disclosed that he had opened a $500,000 short position on XRP, targeting a $3 million profit from the trade.
According to Lynk, XRP’s bull run is over, suggesting prices are more likely to decline than surge. Importantly, this $500K short position would face liquidation if XRP rebounds to its recent swing high of $3.65.
XRP Army: “Fake as Usual”
Meanwhile, reactions to Lynk’s post were mixed. Many doubt whether he actually opened such a large short position. The skepticism stems from the fact that Lynk failed to post a screenshot of the trade, instead only sharing a chart showing XRP’s decline.
Some called it a “wrong move,” while others outright dismissed the post as lies. Dom Kwok, co-founder of EasyA, was among the skeptics. He stated that most anonymous accounts don’t actually take the positions they claim to.
Kwok added that if Lynk did open the short position, he is already losing money. At press time, XRP had recovered slightly to $3.13, putting the position—if entered at $3—at a loss.
Other commenters, like SJLove, called the move a miscalculation, arguing that betting against a 25% price rebound on XRP isn’t wise.
SJLove suggested that the trade could be liquidated quickly if XRP retests its swing high, and that going long would have been the smarter move. Meanwhile, some urged Lynk to take profits early instead of holding out for the $3 million target.
Trader Who Netted $800K After Shorting XRP with $1M
While many questioned the legitimacy of Lynk’s short position, other bearish traders like Crashius Clay have a track record of profitable XRP shorts.
Back in March, Clay predicted that XRP would suffer one of the steepest declines among top cryptocurrencies. Acting on that outlook, he opened massive short positions worth $1 million, regularly posting updates on the trade.
At the time, XRP underperformed, and Clay profited significantly from betting against the uptrend. In April, he disclosed making over $800,000 from his short position.
Thank u so much to the $XRP army for funding my profits ❤️🙏
I am truly thankful for u guys
over $800k and counting just this last month on XRP
such an awesome coin for shorting 🔥 https://t.co/6AOMwER95O pic.twitter.com/wXmyX48xdJ
— Crash (@CrashiusClay69) April 7, 2025
However, XRP’s performance has improved since then. While Clay remains bearish, maintaining that the coin is “going to zero,” he has not disclosed opening any new short positions recently.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
