The post Enormous 20x XRP Short Opened: Down We Go? appeared on BitcoinEthereumNews.com. The market is already responding to a big whale’s recent high-leverage wager against XRP. On-chain and exchange data show that a new wallet opened a massive 20x leveraged short position against XRP worth over $20.5 million, depositing $7 million USDC into Hyperliquid.   As of press time, XRP is trading at about $2.30, down more than 1.5% for the day, continuing its consistent downward trend from the $3.50 region earlier this year. A distinctly pessimistic picture has been painted by the price movement over the last few weeks. XRP was rejected close to the $2.60-$2.70 zone, a crucial level indicated by the 50-day EMA (blue) and the 200-day EMA (black), failing to break above the descending resistance line. The breakout from this rising consolidation pattern has strengthened the overall downtrend and rekindled selling pressure. XRP/USDT Chart by TradingView Technical indicators bolster the pessimistic view. The RSI is declining close to 40, indicating waning momentum without being sufficiently oversold to cause a relief rally. Additionally, volume has increased on red days, demonstrating that sellers are still in complete control. If XRP drops below $2.20, it may be exposed to further losses as it moves toward the next structural and psychological support around $2.00 or even $1.85, where buying interest may surface. You Might Also Like The timing of this leveraged short is critical. This 20x position on a volatile altcoin is an example of a high-leverage position that increases risk and conviction. This trade seems to be a purposeful, high-confidence directional bet on XRP’s decline rather than a hedge because it was supported by a newly funded wallet rather than recycled margin. This development supports investors’ growing short-term pessimism. The path of least resistance will continue to decline unless XRP regains the $2.60-$2.70 resistance region and experiences fresh volume inflows. If… The post Enormous 20x XRP Short Opened: Down We Go? appeared on BitcoinEthereumNews.com. The market is already responding to a big whale’s recent high-leverage wager against XRP. On-chain and exchange data show that a new wallet opened a massive 20x leveraged short position against XRP worth over $20.5 million, depositing $7 million USDC into Hyperliquid.   As of press time, XRP is trading at about $2.30, down more than 1.5% for the day, continuing its consistent downward trend from the $3.50 region earlier this year. A distinctly pessimistic picture has been painted by the price movement over the last few weeks. XRP was rejected close to the $2.60-$2.70 zone, a crucial level indicated by the 50-day EMA (blue) and the 200-day EMA (black), failing to break above the descending resistance line. The breakout from this rising consolidation pattern has strengthened the overall downtrend and rekindled selling pressure. XRP/USDT Chart by TradingView Technical indicators bolster the pessimistic view. The RSI is declining close to 40, indicating waning momentum without being sufficiently oversold to cause a relief rally. Additionally, volume has increased on red days, demonstrating that sellers are still in complete control. If XRP drops below $2.20, it may be exposed to further losses as it moves toward the next structural and psychological support around $2.00 or even $1.85, where buying interest may surface. You Might Also Like The timing of this leveraged short is critical. This 20x position on a volatile altcoin is an example of a high-leverage position that increases risk and conviction. This trade seems to be a purposeful, high-confidence directional bet on XRP’s decline rather than a hedge because it was supported by a newly funded wallet rather than recycled margin. This development supports investors’ growing short-term pessimism. The path of least resistance will continue to decline unless XRP regains the $2.60-$2.70 resistance region and experiences fresh volume inflows. If…