A renowned market analyst discussed his ultimate XRP investment strategy during a sustained bull market, identifying an attractive profit range.
Since the U.S. presidential election on November 5, XRP has experienced a significant rebound following Donald Trump's victory. In November, XRP soared by 283%, an impressive feat, and then rose another 26% in December, maintaining above $2.
XRP Profit-Taking Targets
This ongoing bullish momentum has sparked optimism among investors, most of whom are seeking effective strategies to maximize profits during this market cycle.
Renowned analyst EGRAG revealed his XRP investment strategy, emphasizing a profit-taking range of $4.4 to $27. His approach is based on Fibonacci retracement levels, which analysts frequently use to identify potential price movements.
EGRAG's profit-taking targets include $4.42 (Fibonacci 1.414), $6.56 (Fibonacci 1.618), $8.39 (Fibonacci 1.272), $13.73 (Fibonacci 1.414), and $27.86 (Fibonacci 1.68). He explained that as XRP continues to rise, these price points are crucial for investors aiming to secure profits.
Investment Strategies for Short-Term XRP Holders
To provide guidance, EGRAG outlined several profit-taking strategies tailored for both new and experienced investors.
Notably, for those wishing to take a systematic approach, he recommends percentage-based selling. In this method, investors can sell a fixed percentage of their holdings, such as 25%, at each target price while retaining the remainder to capture potential future gains.
Another option is incremental selling. This would allow investors to sell smaller amounts each time, such as 5% of XRP at a fixed numerical increase, like $0.50.
However, some investors may prioritize recouping their initial capital before implementing other strategies. This enables them to minimize risk while potentially maximizing long-term profits.
Alternatively, some may prefer to sell their entire holdings after reaching personal price targets. In context, this would ensure they adhere to a clear exit strategy.
