A major trader bet has been spotted in the XRP market, drawing investor attention. An anonymous trader known as Auros has built a leveraged XRP long position worth about $7.73 million and is attracting attention in the community after posting sizable gains.

On March 17 (local time), blockchain outlet The Crypto Basic reported that the position began at an average entry price of about $1.39 and has so far posted about $618,000 in unrealised profit. The trade is characterised by a structured strategy that does not use excessive leverage. With a total account size of about $15.93 million, the notional position is $7.73 million, keeping leverage at about 2 times. This is assessed to have a stable structure with no clear liquidation price set.

The strategy is seen in the XRP community as a typical case of “smart money”. Market participants believe the trader is not swayed by short-term volatility, entered at a relatively favourable price range and is aiming for a longer-term rise. The position structure, which lowers liquidation risk, is also cited as a factor supporting that confidence.

Recent XRP price action has also added to the optimism. XRP rebounded after withstanding short-term downward pressure, rising at one point to $1.60 before pulling back to around $1.53. In the process, investors holding short positions suffered heavy losses. Over the past 24 hours, about $12.79 million in leveraged liquidations occurred, with about $9.06 million coming from short positions.

On-chain indicators are also sending bullish signals. The XRP Ledger (XRPL) set a new milestone by surpassing 7.7 million wallets with balances for the first time in its 13-year history, and the number of active addresses also surged to a five-week high. This suggests broader network participation and stronger real-world usage.

The market is seeing analysis that a combination of large traders’ long positions, expanding short liquidations and improving on-chain indicators is supporting the case for further gains in XRP. Still, the possibility of higher volatility after a sharp short-term rise remains, and trading volume and fund flows are seen as key variables that will determine the trend.