The post XRP Price Crash? Top Trader Locks In 600% Profit on XRP, Moves to Ethereum appeared first on Coinpedia Fintech News
A popular crypto trader has made headlines after revealing he earned a 600% profit on his XRP investment and has now moved that money into Ethereum (ETH), hoping for better returns in the near future.
The trader, known as Doctor Profit, shared this update with his followers online. He said he decided to cash out his XRP profits at the current price and put the funds into Ethereum, which he feels has a stronger chance to grow in the coming days.
“I’ve just closed my XRP position after locking in a 600% profit,” he wrote. “I’ve now shifted that amount into ETH because I see a better setup there right now.”
Doctor Profit also made it clear that this move doesn’t mean he’s lost faith in XRP. He still sees it as a good long-term option and plans to buy back in when market conditions improve.
“XRP is still one of my favorite long-term projects. I’ll look to re-enter when the time is right,” he added.
What Made Him Choose Ethereum?
Ethereum has seen steady price growth over the past few weeks. Many market experts believe ETH could be preparing for another price jump, especially with important updates and events lined up.
Doctor Profit’s move is a good example of how traders often book profits from one coin and invest those gains into another, based on current market opportunities.
With Ethereum performing well compared to many other cryptocurrencies lately, it makes sense for traders to consider it for fresh entries.
XRP Price Analysis
XRP is maintaining a bullish market structure since its April lows, consistently forming higher highs and higher lows. The token is currently back testing a key support range, historically a bullish move in uptrend scenarios. If XRP can hold above its April low of $1.64 and break above the key resistance at $2.59, it could trigger a big rally.