Prominent Bitcoin traders flood the XRP market, injecting substantial funds amid growing skepticism.
Regardless of the growing resentment towards XRP, notable traders from the broader crypto community are increasingly entering the XRP market, expressing their confidence in the asset.
One of the most recent significant XRP buy disclosures from the other community came from an elite Bitcoin trader using the “Doctor Profit” username on X.
Bitcoin Trader Stocks 888,353 XRP
In a post earlier today, Doctor Profit revealed that he had invested half a million dollars into XRP. According to the disclosure, the Bitcoin trader entered the XRP market at $0.56 per token, augmenting his existing XRP portfolio.
Adding half a million dollar worth of $XRP at a price of $0.56, to my existing long term XRP position
Last big buy order for XRP was in January last year, bought for 0.32
Expanded my position today pic.twitter.com/mhrWBIUcOr
— Doctor Profit 🇨🇭 (@DrProfitCrypto) February 16, 2024
Specifically, he acquired a total of 888,353 XRP tokens on February 16 in two batches, with each batch being purchased 20 minutes apart.
In the first instance, he bought 479,965 XRP valued at $268,795.97, while in the second, he took a store of 408,388 XRP worth $228,710.60.
Cumulatively, the Bitcoin trader has committed $497,506.57 into XRP. Considering XRP trades at $0.5714 at the time of reporting, the trader’s new XRP acquisition is now worth $507,604, netting a profit of $10,098 in under a few hours.
While some cryptocurrency community members have praised Doctor Profit’s move, others have expressed skepticism, questioning the reasoning behind investing such a significant amount in XRP.
Another Bitcoin Targeting $7 XRP
Meanwhile, Doctor Profit is not the only Bitcoin trader entering the XRP market. Similarly, in a recent post, a Bitcoin day trader disclosed an update to his XRP portfolio. He posted a screenshot of one of his wallets, indicating a balance of 180,738 XRP valued at $102,746.
Interestingly, this Bitcoin day trader has set a target price range of $3 to $7 for XRP this year. He mentioned he would be taking some profit from his XRP holding at around $3 to $7.
#XRP holdings update I have more in other wallets too
Will trim some profits around $3-7 this year pic.twitter.com/NZdRebhu4k
— Myles G Investments (@MylesGinvest) February 15, 2024
Similarly, The Crypto Basic recently featured the story of a crypto founder who revealed his return to the XRP market after a seven-year hiatus from the asset.
The basis of his newfound bullish sentiment was his belief that the growing negativity surrounding XRP signaled a positive development.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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