Top nine XRP traders on Hyperliquid hold 97% short positions totaling $14.33M in exposure, even as XRP rallies 47% in one week.

Abraxas Capital, Fasanara Capital, and Wintermute hold $603M in Bitcoin and Ethereum shorts on Hyperliquid despite $4B in market liquidations.

CryptoQuant data show XRP’s estimated leverage ratio on Binance at its highest since January, with long accounts outnumbering shorts as futures volume runs more than five times…