Trader’s $17.6 Million XRP Short Partially Liquidated Again, Total Losses Exceed $3.6 Million

Core Insights - A prominent crypto trader, known as "Falllling," has incurred significant losses from high-leverage short positions on XRP, totaling over $3.6 million as XRP's price rises to approximately $2.90 with a 1.5% gain in the last 24 hours [1][3][4] Group 1: Trader's Position and Losses - Falllling's recent short position against XRP is valued at $17.6 million, utilizing 20x leverage, but has already faced partial liquidation, reducing its value to $14.3 million [4] - The trader previously shorted 1,366.67 BTC and 2.78 million XRP, incurring an estimated loss of $3.4 million when both positions were closed due to price increases [2][3] - The current liquidation threshold for the XRP position is set at $2.93, which is just above the current market price, indicating a precarious situation for the trader [4][5] Group 2: Market Context and Liquidations - The recent rally in the crypto market led to approximately $357.14 million in liquidations across major cryptocurrencies within 24 hours, with short positions accounting for $185.55 million [6] - XRP specifically saw liquidations amounting to $8.09 million during this period, highlighting the impact of market movements on leveraged positions [6]