Hyperliquid Whale With 99% Win Rate Adds to $1.36M XRP Long Despite 21% Loss

A Grade-S Hyperliquid whale has continued to add to his million-dollar XRP long position despite currently nursing losses due to the recent price crash.

XRP recently collapsed alongside the rest of the crypto market after the U.S. Senate failed to advance the Clarity Act during the much-watched cloture vote. Specifically, the asset crashed 9.81% on Sept. 15, marking its largest intraday drop in seven months.

However, despite XRP facing this steep decline and dropping below $1.30, one Hyperliquid whale boasting a 99.3%-win rate has continued to add to his XRP long position, demonstrating what appears to be firm conviction in the asset’s resilience.

The Initial XRP Long Position

This whale, with address 0xa…566, first opened an initial XRP long position at 10:34 AM UTC on Sept. 15 while XRP was recovering from the drop to $1.38. The whale then added $1.11 million to the position an hour later.

After XRP soared to a local top of $1.45 by 1 PM the same day, the price started correcting as the U.S. Senate failed to advance the Clarity Act, leading to massive selling pressure across the crypto market.

Interestingly, the whale had already reduced his trade and closed the position at a price of $1.40 before the XRP price crash picked up. As a result, he secured a meager $6,000 profit from the trade.

Current XRP Position in Loss

While the market panicked, this whale instead chose the opposite direction. Notably, he again opened an XRP long position worth $557K at 8 PM UTC on Sept. 15, hours into the price crash. The entry for this trade stood at $1.2946. At the time, XRP was already down 9% on the day.

About half an hour later, he increased the position by $800,000 at an entry price of $1.2948 while XRP was still facing massive declines, bringing total notional value to $1.36 million. Since then, the trader has maintained this position, having held for up to 12 hours now. 

However, with XRP collapsing further to the current price of around $1.27, the trader is currently witnessing a massive 26.46% loss on the position, with losses sitting at $18,000 at a 20x leverage. Still, the whale would only suffer a liquidation if XRP collapsed to $0.34, a 73% drop from the current price.

History Shows Promising Results

At press time, liquidation appears unlikely unless the market faces a sudden Black Swan event. Interestingly, this whale has not recorded any liquidations in his entire history of 111 trades. Of this figure, he has witnessed 110 wins and just 1 loss, giving him a 99% win rate.

Further data shows that the account is fairly new, having begun trading on Aug. 27, about three weeks ago. Within this period, he has secured a total profit of $495K, with a Sharpe ratio of 4.33 and a bias sitting at 75% Long.