A cryptocurrency trader has initiated a $27 million short position on XRP using 20x leverage, as whale activity in the market intensifies. Blockchain analytics platform Lookonchain reported that whale holders offloaded 200 million XRP tokens within 48 hours, leading to nearly 42% of the XRP supply trading at a loss. In addition to the XRP short, the trader has also taken short positions on Bitcoin and Zcoin (ZEC) with 40x and 10x leverage, respectively. Analysts indicate potential declines towards key Fibonacci support levels, although a long-term recovery could be supported by growing ETF interest.