A closely watched cryptocurrency whale who gained attention for perfectly timing a Bitcoin selloff in December has resurfaced with a dramatic change in strategy. According to on-chain data, the trader has opened a $30 million long position on XRP, marking a sharp reversal from the aggressive short bets that previously earned him millions in profit.

Data shared by blockchain analytics platform Onchain Lens shows the trader, known for operating on Hyperliquid, entered the XRP position using 20x leverage. The long is valued at approximately $30,043,987 and forms part of a broader portfolio that now holds more than $328 million in leveraged long exposure across Bitcoin, Ethereum, Solana, and XRP.

The move has drawn attention across crypto markets, not only because of its size but also because of the trader’s track record of anticipating major price swings.

From December Bitcoin Dump to Market-Wide Shorts

The wallet first gained widespread attention in December after executing a well-timed exit from Bitcoin holdings. Back then, the trader sold 255 BTC on-chain for about $21.8 million, after previously offloading a total of 514 BTC that had been held for more than a year.

According to data referenced by Onchain Lens, the proceeds from that sale were used to fund sizable short positions, including $80.2 million in Bitcoin shorts and $2.1 million in Ethereum shorts. The timing proved effective as market conditions turned volatile, pushing prices lower.

That strategy significantly boosted the trader’s profitability. On-chain records indicate the December maneuver helped lift the wallet’s total profit and loss to $8,283,137.32, cementing its reputation as one of Hyperliquid’s most aggressive and closely monitored participants.

According to reports from U.Today, the whale’s ability to rotate quickly between spot sales and leveraged derivatives set it apart from more passive long-term holders.

A Full Reversal Into Long Positions

Fast forward to now, and the same trader has abandoned the bearish stance entirely. On-chain data shows the wallet has pivoted into a heavily bullish posture, building a $328 million long portfolio across four major digital assets.

The breakdown of the current positions highlights the scale of the bet. The trader holds 1,247 BTC valued at approximately $112.8 million, alongside 37,414 ETH worth about $115.6 million. In addition, the wallet controls 503,778 SOL valued near $69.8 million and roughly 14.26 million XRP, forming the $30 million XRP long that has sparked renewed attention.

Meanwhile, the XRP position stands out not only because of its leverage but also because it represents a notable vote of confidence in an asset that has often lagged behind Bitcoin and Ethereum in institutional adoption narratives.

Why XRP, and Why Now

Market analysts say the timing of the XRP long is notable. XRP has recently experienced renewed trading activity amid broader speculation around regulatory clarity and improving liquidity conditions across crypto markets.

While the trader has not publicly explained the rationale behind the position, derivatives specialists note that whales often target assets with relatively lower market depth when they expect sharp directional moves. A 20x leveraged position suggests confidence in short-term price momentum rather than a passive accumulation strategy.

According to reports, Hyperliquid’s infrastructure has made it easier for large traders to deploy such concentrated bets, amplifying their visibility on-chain and fueling broader market discussion.

An independent crypto market analyst told U.Today that large XRP positions from historically Bitcoin-focused traders often attract attention because they signal a willingness to rotate into assets perceived as undervalued or poised for volatility-driven gains.

Broader Market Implications

The whale’s pivot also reflects a wider shift in sentiment across the crypto market. After months of uncertainty, leverage is once again building on the long side, particularly among high-risk traders willing to deploy significant capital.

However, such concentration carries risks. A sudden reversal in market conditions could trigger forced liquidations, especially with leverage as high as 20x. Observers note that whales of this scale often act as both signal and stress test for market liquidity.

Meanwhile, the trader’s diversified exposure across Bitcoin, Ethereum, Solana, and XRP suggests a broader thesis that the next leg of the market cycle may favor high-beta assets rather than a single-chain narrative.

Traders and analysts will be closely monitoring how the XRP position evolves. Any rapid increase or reduction in leverage could offer clues about the whale’s short-term outlook. Changes in funding rates, open interest, or partial profit-taking may also signal whether the position is intended as a quick trade or part of a longer-term strategy.

Another key factor will be whether the trader reintroduces short positions if market conditions shift. Given the wallet’s December performance, many see its activity as a bellwether for aggressive sentiment rather than a guarantee of direction.

For now, the return of this Hyperliquid whale underscores how quickly conviction can shift at the highest levels of crypto trading. From unloading Bitcoin at the top to betting heavily on XRP, the strategy reversal highlights both the opportunities and the volatility that continue to define digital asset markets.

Visual and Data Suggestions

A timeline chart showing the whale’s BTC sales, short positions, and current long exposure

A portfolio allocation graphic illustrating the $328 million split across BTC, ETH, SOL, and XRP

A leverage comparison chart showing XRP versus other assets in the wallet

As on-chain transparency continues to expose the moves of large traders in real time, market participants will be watching closely to see whether this latest XRP bet proves as well-timed as the whale’s now-famous December exit from Bitcoin.