Hyperliquid whale sees profit fall from $100M to $38.4M as ETH and XRP longs sink

A prominent Hyperliquid trader has seen profits fall to $38.4 million today, down from nearly $100 million ten days ago, as long positions in Ethereum and XRP came under pressure during the recent market downturn, according to a post on X from on-chain tracker Lookonchain.

The decline coincides with a pullback in major digital assets. Ethereum has dropped from $3,400 to about $2,800 during the same period. The trader opened a long position at $3,200, leaving the trade significantly underwater.

XRP has followed a similar trajectory, falling from $2.5 to just under $1.96 at press time. The trader entered the XRP long at $2.3, adding further losses as both assets registered declines of more than 18% across ten days.

The rapid drop erased more than $61 million in profit and highlights the risks of oversized directional positions on Hyperliquid. The trader remains up overall but is now far from earlier highs as the market continues to unwind recent gains.