A fresh wallet holding more than 20% of the $XRP OI on Hyperliquid is up more than $13M on a long position. But it’s not what you think. This trader opened the long 2 days ago and added more over the last 2 hours, bringing the position to $5.34M in margin and $13.8M in uPNL at current prices. At first glance, he might look like an extremely good trader, or even an insider who knew what was about to happen. But the truth is that this same trader tried almost exactly the same setup with another address just 2 months ago, and the market did the exact opposite. Back then, he opened a $30M XRP long, representing more than 25% of XRP OI on Hyperliquid. A few days later, XRP dumped, the position was liquidated, and he lost more than $8M that day. You can find both addresses here: It turns out he’s probably not an insider or a sophisticated trader. He’s just a gambler making massive directional bets. These kinds of trades can create very misleading signals. Traders see a fresh wallet taking an enormous position and assume it must know something, creating false confidence that leads them to trade without any real edge. That’s exactly why we’re building a much stronger system to help our traders identify these patterns and avoid falling into these traps. More coming soon.