XRP Drops 1.34% as Trader Opens $27.4M Short Position with 20x Leverage

XRP fell 1.34% to $2.22 in 24 hours, extending losses for a sixth consecutive day from its November 11 peak of $2.56. A crypto trader opened a leveraged short position of 12.34 million XRP valued at $27.4 million, according to on-chain data. Large holders sold approximately 200 million XRP within 48 hours, intensifying downward pressure on the asset.