A distinguished crypto dealer on the X (previously Twitter) platform has made waves on social media after revealing that he bought off all of his XRP holdings with a view to buy Ethereum. The dealer who is called Doctor Profit on social media revealed this to his over 400,000 followers on the platform, together with the reason why he made this transfer and what he expects going ahead.
Dump XRP For 600% Gains To Buy Ethereum
Doctor Profit had first revealed on May 19 his intent to start promoting his XRP stash. In this preliminary put up, he revealed that each one of his XRP was purchased at very low costs between $0.2 and $0.5, placing his entry very low. At the present value on the time, the crypto dealer was sitting on a revenue of roughly 608% at this level.
This was when he instructed his followers that he supposed to begin selling his XRP investments after holding onto them for 3 years. He additional defined that he was solely promoting XRP and no different cryptocurrencies and even Bitcoin. Rather, he was promoting to have the ability to purchase extra later at a less expensive value.
Then in a follow-up post on May 20, Doctor Profit lastly revealed his full plan in relation to promoting XRP. Apparently, the crypto dealer had determined to dump all of his XRP with a view to purchase Ethereum, a transfer which he known as “a matter of capital appreciation.” The purpose for it is because Doctor Profit believes that the Ethereum price could see a major increase within the close to time period.
As for XRP, he defined that promoting his stash didn’t imply that he anticipated the XRP value to crash. Rather, it was as a result of holding XRP didn’t make sense within the brief time period and was a extra long-term funding. Thus, he plans to take the beneficial properties produced from the Ethereum investment after which reinvest them at a later date when a very good entry is introduced. But for now, Doctor Profit confirmed that the entire earnings produced from his XRP funding within the final three years have now been moved into Ethereum.
Bullish Outlook For The Market Remains
Back in the course of the decline that plagued the crypto market from January to March 2025, Doctor Profit was one of many analysts who called the price bottom when Bitcoin had dropped to $77,000. From there, the analyst had referred to as that Bitcoin would rebound again above $100,000, sustaining {that a} new all-time excessive is feasible. So far, his $100,000 prediction has come to go, and the all-time excessive forecast was accomplished after Bitcoin breached $109,300 on Wednesday.
For Ethereum, the analyst’s bullish thesis has been round for some time. He has beforehand referred to as Ethereum the perfect alternative as its technical, on-chain, and psychological indicators have turned bullish. He believes that the Ethereum value can rise as excessive as $7,600, with a whole lot of liquidity pooling round $4,000.
Featured picture from Dall.E, chart from TradingView.com
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