A popular crypto trader, known as Doctor Profit, recently made headlines by selling all his XRP to buy Ethereum. He shared his reasoning with his 400,000+ followers on X.
A 600% Profit and a New Strategy
Doctor Profit initially announced his intention to sell his XRP holdings in May. He’d bought XRP at prices between $0.20 and $0.50, meaning he was sitting on a massive 608% profit. He explained he’d held it for three years and was selling only his XRP, not other cryptos or Bitcoin. His goal? To buy back in later at a lower price.
All-in on Ethereum
In a follow-up post, he revealed his full plan: He’d dumped all his XRP to buy Ethereum, calling it a “capital appreciation” move. He believes Ethereum’s price is poised for a significant increase. This wasn’t a bet against XRP; he simply sees it as a better long-term hold, while Ethereum offers more potential for short-term gains. He plans to reinvest his Ethereum profits back into XRP when the time is right.
A Bullish Outlook
Doctor Profit has a history of accurate predictions. During the crypto market downturn earlier this year, he correctly predicted Bitcoin’s bottom at $77,000 and its subsequent rebound above $100,000. He’s equally bullish on Ethereum, citing positive technical, on-chain, and psychological indicators. He predicts Ethereum could reach $7,600, with significant support around $4,000.
