A Grade D-rated trader on the decentralized exchange Hyperliquid was forced to buy back approximately 450,000 XRP tokens from the market to cover a short position, incurring realized net margin losses on each closure. Through four consecutive orders around $1.44, this trader reduced the short position from 2.42 million to 1.96 million XRP as this price level became a solid support zone. XRP has performed a V-shaped recovery after falling below $0.90, breaking above the 200-day moving average to reach a peak at $1.65. Other major traders with A+ ratings are now opening long positions, signaling that bearish positioning is rapidly losing its economic appeal. If other traders trapped in short positions follow this example, a chain reaction could push XRP back toward $1.60-$1.65 targets.
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