TL;DR:
- Accumulated positions: Two “Money Printer” category traders on Hyperliquid consolidate XRP shorts exceeding $5.4 million.
- Historic return: One of the addresses records an unrealized gain of 1,557% after opening its position near the $2.43 peak.
- Systemic hedging: Total short positions in Hyperliquid’s large-wallet category reach $1.29 billion.
At the close of the fourth month of 2026, activity on the Hyperliquid platform reveals that the traders with the largest gains, known as “money printers,” have bearish expectations for the price of XRP. Data from CoinGlass indicates that two whales consolidated short positions totaling $5.4 million, reflecting a resistance strategy in the face of current market volatility.
The first of these positions, linked to address 0x555…d43b, stands out for its operational precision. On-chain data indicates that this trader opened a short near the $2.43 peak using 20x leverage. At the time of writing, the position has generated a 1,557% return, turning the initial deposit into an exposure of $1.21 million. Given that the liquidation level sits at $5.44, the CoinGlass report suggests that this actor could absorb local rebounds without compromising their capital.
Resistance Analysis and Critical Levels on Hyperliquid
On the other hand, address 0xc30…a4c9 focuses its strategy on nominal volume over the risk multiplier. Platform data records a $4.21 million position opened at an entry price of $1.419. Unlike the first case, this trader uses a more conservative 8x leverage, creating a technical resistance barrier on the price chart. The current trend shows that the critical level for this operator is located at $1.61, where a price increase could trigger a wave of liquidations.
The XRP situation is not an isolated event; rather, it is projected as a reflection of the general sentiment among Hyperliquid’s largest wallets. Currently, total short positions in the category of investors with a PnL exceeding $1 million amount to $1.29 billion. This figure significantly exceeds long positions, which stand at $910 million, which could be interpreted as large-scale risk hedging against second-quarter 2026 fluctuations.
The asset maintains a solid presence in the top 10 by open interest on the platform, with $38.79 million registered among the most successful traders. However, the bias toward selling is evident: compared to the $15.72 million in long positions, there are $23.07 million in shorts. The CoinGlass report reveals that this disparity suggests an institutional bet on a correction following the rally observed during the spring of 2026.
Despite the magnitude of these bearish bets, the XRP market on Hyperliquid shows no signs of immediate overheating. Data suggests that the risk of a massive “short squeeze” in the short term is relatively low, allowing whales to maintain their exposure without fear of forced closures during minor fluctuations.