XRP, going to $7? ..."80% profit-taking at $4.9"

▲ XRP, Cryptocurrency Security/AI Generated Image

As XRP fell for three consecutive trading days in its 10th month of a bear market, a trading strategy was proposed to accumulate XRP in stages between $0.55 and $0.65, and then secure profits sequentially at $4.9192 and $7.2582. In a scenario investing $10,000, the final recovery amount was calculated to exceed $66,000.

According to the cryptocurrency specialized media outlet The Crypto Basic on July 8 (local time), XRP recently recovered to $1.18 but then fell during intraday trading for three consecutive days, with a high possibility of a fourth consecutive day of decline. The recently proposed trading strategy suggested a 3-stage phased buying approach, increasing the proportion of investment as the price decreases further.

The first buying range is $1.35-$1.36, investing 25% of the total capital. 25% is also allocated to the second range of $0.9-$1. The lowest range of $0.55-$0.65 is designed to invest 50% of the total funds to lower the average purchase price.

The profit realization targets are divided into two stages based on the Fibonacci extension model. The strategy suggests selling 80% of holdings when XRP reaches $4.9192, which is the Fibonacci 4.0 extension line based on its long-term low of $0.2411. Subsequently, it proposes liquidating the remaining 20% at $7.2582, the Fibonacci 6.0 extension line.

A $10,000 investment example was also presented. If 7,692 XRP are purchased with 50% of the investment at $0.65, 2,777 XRP with 25% at $1, and 1,838 XRP with the remaining 25% at $1.36, a total of 12,307 XRP are secured. Subsequently, selling 9,845 XRP at $4.9192 secures $48,433, and liquidating the remaining approximately 2,461 XRP at $7.25 would recover an additional $17,845.

The $10,000 investment is structured to grow to over $66,000 if both target prices of the strategy are realized. The Crypto Basic stated that this scenario is valid only if XRP rises to $4.9 and $7.25, and the attainment of these target prices is uncertain.

[Key Summary of the Article]

-The XRP trading strategy proposed a phased investment of 25%, 25%, and 50% of capital at $1.35-$1.36, $0.9-$1, and $0.55-$0.65, respectively.

-It is a two-stage profit realization strategy: selling 80% of holdings at $4.9192 and liquidating the remaining 20% at $7.2582.

-In the $10,000 investment example, if both target prices are realized, the recovery amount was calculated to exceed $66,000.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*