MMCrypto, a renowned Bitcoin advocate, has disclosed that while he does not admire XRP, he engages in the asset for big profits.
The Bitcoin maxi shared this sentiment in a recent disclosure on X, showcasing trades with over $9 million in yield. In the post, he highlighted leveraged positions for XRP, BTC, and Ethereum.
Bitcoin Maxi Trading XRP for Profit
He entered the XRP market when the asset was valued at $0.5757, opening a 10X leveraged position with a liquidation point at $0.5228. As XRP’s price surged to $0.6035, MMCrypto’s trade yielded a remarkable 48.21% gain. This resulted in an unrealized profit of $11,987.
Meanwhile, the seasoned trader opened his Bitcoin trade way back in February when the asset was at $46,056. He entered with 17X leverage. As Bitcoin’s price soared to $67,538, MMCrypto’s trade yielded a staggering 535.23% gain.
Similarly, his Ethereum trade was initiated as far back as Q4 2023, when ETH was at $1,599. Interestingly, he used an astonishing 49X leverage for Ethereum.
Fast forward to today, with ETH trading above $3,000, he is enjoying an unrealized return of over 2,587%, making it his most profitable trade among the three assets.
Essentially, MMCrypto has only recently explored trading XRP. This trade comes just days after he conveyed unexpected interest in the asset, departing from his previous skepticism.
This shift in stance coincides with XRP’s remarkable growth of over 60% in less than two weeks this month. The rally propelled XRP to a three-month high. During this time, XRP briefly ranked as the best-performing among billion-dollar cap cryptos.
The sudden surge in XRP’s popularity caught MMCrypto’s attention, prompting him to consider investing in the asset. And now, he has successfully executed a profitable trade in XRP. MMCrypto reported that the trades involving XRP, BTC, and ETH have generated a staggering profit of $9 million.
Still Not a Fan of XRP
In addition to his leveraged trade, the Bitcoin maxi revealed that he also purchased a significant amount of XRP spot. He cautioned that his leveraged positions were risky and a gamble.
Moreover, MMCrypto emphasized that he still is not an XRP enthusiast by any means. Rather, he is simply looking to capitalize on the asset’s profit potential.
“I am not at all an XRP fan. Buying for profit,” he said.
Disclaimer: I bought a lot of $XRP spot also. This is risky and a gamble of mine.
I am not at all an XRP fan. Buying for profit.
— MMCrypto (@MMCrypto) July 22, 2024
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
