Whale Closes Long Positions in XRP and Ethereum, Securing $7.5 Million Profit
Whale Locks in $7.5 Million Profit on Ethereum and XRP
A whale has closed significant long positions in Ethereum and XRP, realizing a profit of approximately $7.5 million, following a market pullback.
- The whale initially opened a long position in Ethereum during its rally, with unrealized gains exceeding $10 million at one point.
- A 2x long position on XRP was initiated just before its price increase, which reached an unrealized profit of around $261,000.
- Both positions were exited as market conditions changed, highlighting the caution of large investors.
The whale still holds a long position in Solana (SOL) valued at $15.4 million, currently down $560,000. This indicates a selective risk appetite despite market volatility.
Recent market dynamics have seen both Ethereum and XRP performing well, with Ethereum surpassing major brands in market capitalization and XRP experiencing significant price movements.
External factors, including a US-China trade deal, are influencing market sentiment for cryptocurrencies and traditional assets alike.