1,500% Unrealized Profit: Why Hyperliquid’s Top XRP Shorter Isn’t Exiting Yet

Notable activity has been recorded among Hyperliquid’s “money printers”, those with PnL above $1 million, according to CoinGlass. Two traders have consolidated short positions in XRP totaling more than $5.4 million, demonstrating different approaches to risk management but a unified view on the coin’s outlook. 

On-chain data provides insight into the logic behind these trades, and at the moment, two polar positions stand out on the platform:

• “Sniper” endurance (address 0x555…d43b): This player opened a short near the peak, around $2.43. Using aggressive 20x leverage, the trader turned their deposit into a $1.21 million position, which has now generated an enormous 1557% return. With liquidation at $5.44, this whale can ignore any local price rebounds, acting as an anchor for bearish sentiment.
• Heavy pressure (address 0xc30…a4c9): Here, the focus is on volume. A $4.21 million position was opened at $1.419. The trader operates more conservatively with 8x leverage, but it is this size that creates real resistance on the chart. At present, the position is in profit by $155,000 (+29%), and the critical level for this player is $1.61, where a cascade of liquidations could begin.

Hyperliquid whales signal a $1.29 billion market-wide hedge

The situation with XRP reflects broader sentiment among the largest wallets on Hyperliquid. Currently, total short positions in the “Money Printer” category stand at $1.29 billion, significantly exceeding long positions at $910 million. 

XRP firmly holds a place in the top 10 assets by open interest on the platform at $38.79 million among the most successful traders on Hyperliquid, with a clear bias toward shorts – $15.72 million in longs versus $23.07 million in shorts – which may indicate either risk hedging or a direct institutional bet on a correction after the spring rally of 2026.

Despite the presence of multi-million dollar shorts, XRP does not appear overheated in terms of immediate squeeze risk, which allows bears to maintain their positions without fear of sudden forced closures on minor price fluctuations.