A prominent crypto trader known as “Falllling” has seen another partial liquidation on his reopened $17.6 million short position against XRP, pushing total losses above $3.6 million amid ongoing high-leverage gambles.
As XRP climbs to around $2.90 with a 1.5% 24-hour gain, the remaining $14.3 million position teeters near its $2.93 liquidation threshold, underscoring the trader’s persistent bearish stance in a recovering market.
Losses From Earlier High-Leverage Bets
Falllling(@qwatio) ’s latest wager follows a costly series of leveraged trades. Blockchain analytics firm Lookonchain shows that @qwatio previously shorted 1,366.67 BTC—valued around $150 million at 40x leverage—and 2.78 million XRP worth roughly $7.7 million at 20x leverage.
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Both trades had tight liquidation thresholds: $110,280 for Bitcoin and $3.0665 for XRP. When prices moved higher over the weekend, the trader closed both positions at a loss, incurring an estimated $3.4 million setback.
Despite these losses, XRP climbed 2% in the last 24 hours, trading above $2.80. The rally forced many short sellers to cover positions, while the broader crypto market showed modest recovery.
New $17.6M Short Position
Undeterred, Falllling opened a new high-stakes short on 6.17 million XRP, valued at roughly $17.6 million using 20x leverage. After another partial liquidation, the position dropped to 4.98 million XRP, now valued at $14.3 million.
The liquidation level sits at $2.93—just above the current market price of $2.90. This narrow margin leaves little room for error. On-chain data shows the position already has a paper loss of around $121,000.
Any upward move beyond $2.93 would wipe out the position, while a sharp decline could generate significant gains. Analysts warn that high-leverage strategies can quickly amplify both gains and losses, especially when liquidation levels are close to spot prices.
Broader Market Liquidations
The weekend’s rally sparked liquidations across major cryptocurrencies. According to Coinglass, about $357.14 million in positions were liquidated within 24 hours, with short positions accounting for $185.55 million. Bitcoin led the market with $81.54 million in liquidations, while XRP accounted for $8.09 million.
Analysts warn that if XRP rises to $2.93—slightly above Falllling’s liquidation point—nearly $44 million in XRP shorts could be forced to close. The trader’s decision underscores ongoing skepticism from some market participants, even as prices stabilize and sentiment across the digital-asset sector improves.
Source: https://beincrypto.com/traders-xrp-short-partially-liquidated-again/
