A major crypto investor has made headlines after depositing over $5.8 million in USDC to the decentralized derivatives exchange HyperLiquid to initiate a 2x leveraged long position on XRP. The bold move signals growing confidence in the Ripple-linked digital asset, even as broader market sentiment remains cautious.
Leveraged Trades on the Rise
According to data from Onchain Lens, the sizeable capital injection occurred earlier today and was used to open a substantial long position in XRP. HyperLiquid, which operates on its proprietary Layer 1 blockchain, has recently gained traction for offering low-latency, high-leverage trading without relying on traditional smart contracts.
This isn’t the first high-stakes trade by the same wallet. Previously, the same investor executed a leveraged long position on Ethereum (ETH) with 2x leverage and is currently sitting on an unrealized profit of over $10 million. Ethereum has gained nearly 40% in the past seven days, contributing to the position’s success.
Also Read: Ripple Reaches Settlement, XRP Holders Urged to Hold Through Phase 6
8 hours ago, a whale deposited $5.84M $USDC into #HyperLiquid to place a long position on $XRP with 2x leverage.
The whale previously opened a long position on $ETH with 2x leverage, resulting in a floating profit of $10M+.
Address: 0x175e7023e8dc93d0c044852685ac33e856b577b4… https://t.co/tIyIzgQArc pic.twitter.com/FnpidzM4NC
— Onchain Lens (@OnchainLens) May 12, 2025
XRP Price Movement and Market Context
At the time of writing, XRP is trading at $2.39, down 0.17% over the past 24 hours, according to Coinmarketcap. Despite this minor dip, XRP has posted weekly gains of 9.8%, hinting at building momentum and possible investor repositioning as the market anticipates new developments.
This movement comes amidst a broader sense of caution in the crypto market. Investors are closely monitoring trade negotiations between the United States and China, which continue to inject volatility into global financial markets. While some progress has been reported, the outcomes remain uncertain, keeping markets in a reactive state.
Decentralized Derivatives See Growing Demand
HyperLiquid’s growing popularity reflects a broader trend in the crypto space: increasing demand for decentralized trading solutions that offer advanced features such as isolated margin and perpetual contracts.
Unlike centralized exchanges, these platforms allow users to retain custody of their assets while participating in high-leverage trades.
In 2025, derivatives trading has seen a surge in retail and institutional participation. Data from DefiLlama shows that decentralized derivatives platforms now account for more than $4.2 billion in open interest, a figure that has steadily climbed since the start of the year.
Looking Ahead: What This Means for XRP
This $5.84 million leveraged bet could mark a pivotal moment for XRP, especially as regulatory clarity improves in several jurisdictions. Ripple Labs and the SEC recently agreed to pause their appeals in the long-running lawsuit, and the agency has also filed a motion to drop the injunction against the blockchain giant.
Notably, these developments have further bolstered investor sentiment around the asset, leading to increasing whale activities and market rebirth.
With market conditions still largely shaped by macroeconomic events, the coming weeks will be crucial for determining whether XRP can sustain upward momentum and potentially break through key resistance levels.
Also Read: XRP Now Accepted at UAE Gas Stations in Shocking Crypto Payment Move
