XRP just ripped 47% in a week, then immediately started leading the top-10 dump with a 6.23% daily loss. Shocker. But here's the real kicker: the nine most profitable wallets on Hyperliquid are sitting 97% short on $14.33 million in gross notional XRP exposure — and one whale alone holds half that short. These aren't bagholders praying; these are the guys who've already cashed in on this token. Market maker Wintermute is also in the shorts with over $10 million, though their play might be hedging, not pure gambling. Either way, the scoreboard favors them so far.
▪️ Top 9 Hyperliquid wallets by P&L hold 97% of their XRP exposure short — one wallet alone has ~$7M short. Yeah, they're not sweating.
▪️ Market maker Wintermute is sitting on >$10M in XRP shorts, part of a >$190M short portfolio across assets. Hedging or not, they're in.
▪️ XRP went from ~$1.00 to an intraday high near $1.69 in four days — now back at $1.38. Fun while it lasted.
▪️ The $1.40 zone flipped from resistance to support last week; losing it on a daily close means sellers likely push lower. Good luck, longs.
▪️ RSI at 66.7 is still bullish but closing in on 70 where profit-taking starts; ADX at 44.1 confirms a strong trend. Textbook.
▪️ XRP-linked ETFs logged nine straight days of net inflows — institutions aren't fleeing, this is a leverage unwind. They're just waiting to buy the dip again.
📊 XRP weekly gain before pullback:
+35-47%📊 % short among top Hyperliquid traders:
97%📊 Largest single short wallet:
$7M📊 Wintermute XRP shorts:
$10M+If you're holding XRP right now, you're in a knife fight at $1.40. The smartest shorts on Hyperliquid are still in — they held through a 47% rally and didn't flinch, which means either they know something or their entry price is so good they can stomach more pain. The leverage unwind that triggered today's drop isn't done yet: open interest hit $3.61 billion across venues, so there's plenty of fuel left for both directions depending on tonight's PCE data and Nvidia earnings. If $1.40 breaks on daily close, expect sellers to test the August support zone lower down. Don't say we didn't warn you.
💬 «One wallet alone accounts for half of the total short interest, meaning a single trader is essentially anchoring the bearish thesis with roughly $7 million in exposure.» — @jodezXBT via Cryptobriefing
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