On Hyperliquid, a critical situation has been recorded in the portfolio of one of the platform's largest players, '0xc30...ba4c9' as per whale tracker by CoinGlass. His bet on a decline in XRP, worth almost $4 million, risks being fully liquidated if the token's price rises to $1.69.

At the moment, the whale holds four short positions: BTC, ETH, XRP and TAO, with total leverage of 7.10x. Although the Bitcoin, Ethereum and TAO positions are currently in the green and are generating a combined unrealized profit of about $13,000, the XRP short wipes out that success with a current loss of –$29,050, or –5.10%.

How XRP short threatens to wipe out a whale's BTC and ETH gains

Interestingly, the entry price of $1.42 is in the same corridor where XRP is currently trading. Despite this, the Hyperliquid whale got himself trapped by leverage. At the current margin level, the safety cushion is just over 17%, with a position size of $3.99 million, or 2.78 million XRP in equivalent terms.

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Hyperliquid Whale Tracker '0xc30c..c9', Source: CoinGlass

The main problem in the portfolio is its imbalance. The XRP short accounts for more than 60% of the total value of all positions, making it the decisive factor for the survival of the entire account. The numbers point to an extremely dangerous position. 

Free margin stands at only $10,590, which means only 1.18% of capital can be withdrawn or used for any maneuver.

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The situation is worsened by the negative performance of recent weeks, with 7-day PnL at –$289,980 and 30-day PnL at –$263,890. This shows that the account holder has already lost a significant part of funds over the past month, while the current room before liquidation at $1.69 is almost exhausted. 

With no free funds available, the account holder is effectively deprived of the ability to protect his bet.

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