A crypto whale has exited a series of high-stakes long positions in XRP and Ethereum, securing an estimated $7.5 million in profits, according to on-chain analytics platform Lookonchain. The decision follows a broader correction in the crypto market, signaling a shift in sentiment among some of its largest players.
Profitable Exit Amid Volatility
The investor had previously opened a 2x leveraged long position in XRP worth approximately $12 million. After a short-lived rally, the position was closed as prices began to falter alongside Ethereum holdings, which were also liquidated.
Lookonchain attributes the move to the recent market-wide pullback, suggesting that the whale opted for profit-taking over riding out the correction.
Also Read: XRP Price Nears Breaking Point as $2.42 Level Becomes Key Resistance Test
Due to the market pullback, this whale has closed $ETH and $XRP long positions, locking in a profit of ~$7.5M.
He’s still holding a $15.4M long on $SOL, currently down $560K.https://t.co/VCde0KlT1Dhttps://t.co/K3QnpVS15l pic.twitter.com/Ob75lWB1ue
— Lookonchain (@lookonchain) May 13, 2025
Earlier this week, XRP saw a notable surge, posting double-digit gains on Monday and briefly overtaking Tether (USDT) to claim the third spot in global market capitalization.
The rally was seen by many as a decoupling from the broader crypto market, with some analysts attributing the spike to growing institutional interest and positive sentiment surrounding Ripple’s legal positioning.
Notably, the bullish momentum has sustained as XRP has posted impressive gains today, surging by almost 5% according to Coinmarketcap data to trade at $4.49. This rally positions XRP as the top and only gainer among the top 10 cryptocurrencies in the last 24 hours.
US-China Trade Deal Alters Market Dynamics
Contributing to the current climate is the recently announced trade agreement between the United States and China. The deal has lifted global stock markets but has had a cooling effect on risk-off assets like Bitcoin and gold, which had been rallying during trade uncertainty.
Bitcoin, often referred to as digital gold, saw a sharp sell-off following the announcement. It dipped to an intraday low of $101,109 before rebounding slightly, echoing the movements in traditional safe-haven assets.
Analysts suggest that with geopolitical tensions easing, traders are rotating capital out of defensive positions and into equities.
ETH Long Abandonment Reflects Broader Market Anxiety
Alongside the XRP trade, the whale also chose to unwind their Ethereum exposure. Despite Ethereum’s strong weekly performance, buoyed by network upgrades and sustained demand for ETH-based staking, the asset was not immune to profit-taking pressure.
The exit from both positions suggests that large traders are reducing leverage and exposure as volatility returns to the market.
On-chain metrics indicate that similar unwinding activity is happening across multiple exchanges. Funding rates have cooled, and open interest in futures markets has seen a slight dip over the past 48 hours. This aligns with a broader theme of cautious deleveraging following an aggressive start to Q2.
Conclusion
While the whale’s exit might spark short-term selling pressure, it also underscores the importance of disciplined trading in highly volatile environments. As macroeconomic forces and crypto-specific developments continue to clash, traders and investors alike are preparing for heightened uncertainty in the weeks ahead.
Also Read: Expert Says 95% of Investors Will be Left Out When XRP Takes Off – Here’s Why
