A trader on the Hyperliquid platform has opened a $1 million long position in XRP at a price of $2.4093, utilizing 10x leverage. This strategic move comes in the wake of a significant price rebound following a major crash on October 10, which resulted in the liquidation of $703 million in XRP leveraged positions. Currently, XRP is trading at $2.44, marking a 1.27% increase from the trader's entry point, thus placing the position in profit. In the past 24 hours, $2.44 million in XRP leveraged positions have been liquidated, with long positions accounting for $1.29 million. The position faces potential liquidation if XRP's price falls to $2.349 or rises to $2.541.