\n
<\/p>\n
\n\t\t\t\t\t\t\t\t\tCan \u201cqwatio\u201d succeed this time?\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
The cryptocurrency market is a playground for high-risk traders willing to wager millions in pursuit of fortune. Here\u2019s one such story you might find interesting.<\/p>\n
While bullish investors welcomed the recent resurgence of the cryptocurrency market, it also triggered some painful losses for those who had bet that prices would continue to sink.<\/p>\n
The analytics platform Lookonchain revealed<\/a> the case of the trader with the nickname \u201cqwatio\u201d who closed his short positions on Bitcoin (BTC) and Ripple (XRP) and parted with $3.4 million. Shortly after, however, he reopened a 20x short on XRP, valued at $17.6 million, with a liquidation price at $2.9155.<\/p>\n The native token of Ripple is among the top performers today (September 29), as its price has soared by 4% to $2.90. This means that a further increase of the negligible 0.53% will result in another major liquidation for the aforementioned trader.<\/p>\n \u201cQwatio\u201d is not a newbie in the crypto industry, but his trades have often resulted in multi-million dollar losses. In July, he was liquidated<\/a> for a total of $334 million when the market was booming and BTC peaked above $122,000.<\/p>\n Several analysts believe Ripple\u2019s cross-border token could be on the verge of a further price pump in the short term. The renowned X user Ali Martinez claimed<\/a> XRP has successfully defended the support of $2.70, which might set the stage for an ascent toward $3 or even $3.15.<\/p>\n CRYPTOWZRD outlined<\/a> a similar outlook, highlighting $2.75 as the crucial daily support level; if this zone holds firm, the analyst believes it could pave the way for further upside momentum.<\/p>\n Meanwhile,\u00a0whales remain quite interested in the token. Martinez disclosed<\/a> that such large investors have accumulated 120 million XRP in the last 72 hours. The USD equivalent of the stash is almost $350 million.<\/p>\n Such purchases reduce the available supply of assets on the open market, which could be followed by a price rally (assuming demand does not head south). In addition, smaller players may view this as an encouraging sign and enter the ecosystem as well.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\nThe XRP Bet About to Go Bust?<\/h2>\n
You may also like:<\/h3>\n
\nBinance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\n