Trader

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A prominent crypto trader on the X (formerly Twitter) platform has made waves on social media after revealing that he sold off all of his XRP holdings in order to buy Ethereum. The trader who is known as Doctor Profit on social media revealed this to his over 400,000 followers on the platform, along with reasons why he made this move and what he expects going forward.

Dump XRP For 600% Gains To Buy Ethereum

Doctor Profit had first revealed on May 19 his intent to begin selling his XRP stash. In this initial post, he revealed that all of his XRP was bought at very low prices between $0.2 and $0.5, putting his entry very low. At the current price at the time, the crypto trader was sitting on a profit of approximately 608% at this point.

This was when he told his followers that he intended to start selling his XRP investments after holding onto them for three years. He further explained that he was only selling XRP and no other cryptocurrencies or even Bitcoin. Rather, he was selling to be able to buy more later at a much cheaper price.

Then in a follow-up post on May 20, Doctor Profit finally revealed his full plan when it comes to selling XRP. Apparently, the crypto trader had decided to dump all of his XRP in order to buy Ethereum, a move which he referred to as “a matter of capital appreciation.” The reason for this is because Doctor Profit believes that the Ethereum price could see a major increase in the near term.

As for XRP, he explained that selling his stash did not mean that he expected the XRP price to crash. Rather, it was because holding XRP didn’t make sense in the short term and was a more long-term investment. Thus, he plans to take the gains made from the Ethereum investment and then reinvest them at a later date when a good entry is presented. But for now, Doctor Profit confirmed that all of the profits made from his XRP investment in the last three years have now been moved into Ethereum.

Bullish Outlook For The Market Remains

Back during the decline that plagued the crypto market from January to March 2025, Doctor Profit was one of the analysts who called the price bottom when Bitcoin had dropped to $77,000. From there, the analyst had called that Bitcoin would rebound back above $100,000, maintaining that a new all-time high is possible. So far, his $100,000 prediction has come to pass, and the all-time high forecast was completed after Bitcoin breached $109,300 on Wednesday.

For Ethereum, the analyst’s bullish thesis has been around for a while. He has previously called Ethereum the best opportunity as its technical, on-chain, and psychological indicators have turned bullish. He believes that the Ethereum price can rise as high as $7,600, with a lot of liquidity pooling around $4,000.

ETH bulls push above $2,600 | Source: ETHUSDT on TradingView.com

Featured image from Dall.E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Source link