XRP Whale Suffers $28,000,000 Liquidation as Token Slides Toward $1

A major XRP whale has suffered one of the largest XRP liquidations in recent weeks after the token plunged toward $1.00.

Data from Hyperbot shows that the whale, identified by wallet address 0xf79, lost $28.2 million in XRP long positions as a broader market sell-off pushed prices below key liquidation thresholds. The trader also suffered liquidation on a separate Bitcoin position, bringing total forced liquidations to approximately $75 million.

Whale Positioned Aggressively for an XRP Recovery

The trader began building XRP long positions on June 23 through Hyperliquid when XRP traded around $1.11 per token. Instead of opening a single large trade, the whale spread exposure across multiple positions while using leverage of around 10x in an apparent attempt to manage risk. 

Trading records reveal two major XRP positions:

• 5,584,639 XRP with a liquidation price of $1.0194
• 22,338,560 XRP with a liquidation price of $1.0092

Combined, the positions represented nearly 28 million XRP, valued at more than $28 million before liquidation occurred.

XRP Decline Triggered Consecutive Liquidations

As selling pressure intensified across the market, XRP fell from approximately $1.11 to around $1.0090, placing the asset directly within the whale’s liquidation range. Once XRP reached $1.0194, the exchange automatically closed the first position, liquidating 5.58 million XRP.

However, the decline continued. As XRP slipped further toward $1.0091, the larger position containing 22.33 million XRP also hit its liquidation threshold and was forcibly closed.

At the same time, the trader’s leveraged Bitcoin positions unraveled, resulting in an additional $47.5 million in losses. Consequently, the whale’s total recent liquidation losses climbed to roughly $75 million. 

The latest wave of liquidations pushed the trader’s cumulative losses to an estimated $8.2 million, leaving only about $1.6 million in the account. Notably, the liquidations occurred amid a wider crypto market downturn that triggered heavy losses across leveraged traders.

Crypto Market Records Over $1 Billion in Liquidations

Over the last 24 hours, the crypto market recorded more than $1.07 billion in liquidations. Long positions accounted for $842 million of those losses, while short positions represented about $223 million.

XRP alone contributed nearly $43.96 million in liquidated positions. Of that figure, $43.12 million came from longs, while short liquidations totaled approximately $841,900.

Despite the heavy liquidations, XRP has staged a modest rebound. The token has climbed back to approximately $1.03 and is currently up 4.71% over the past 24 hours, suggesting buyers have begun stepping back into the market following the sharp sell-off.