US Strategic Cryptocurrency Reserve Announcement

After US President Donald Trump announced on his social media platform Truth Social that he would establish a US Strategic Cryptocurrency Reserve consisting of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA), a crypto whale was left in a big mess, according to on-chain data.

The Panic of a Crypto Whale

According to on-chain data provided by Lookonchain, a crypto whale with a 20x short position on XRP appears to have panicked about closing his position following Trump’s statement.

The whale added $8 million worth of USDC to his position to prevent liquidation. Currently, the whale’s short XRP position has suffered a loss of $4.6 million.

Wallet Overview

Examining the data reveals that the whale’s wallet has $16 million in futures and $5 million in the spot market. According to the latest information, the whale has long positions in ETH, SOL, and BTC, while holding short positions in XRP, SUI, DOGE, ADA, and HYPE.

This is not investment advice.