XRP analyst Egrag Crypto has shared insights regarding his price targets and selling strategy for the altcoin. This comes as the asset experiences a rebound, aiming to overcome the $3 mark and hit new peaks.
Analyst Shares Strategy Amid XRP Price Recovery
In a post on X, Egrag Crypto discussed his comprehensive targets and selling approach for XRP. He mentioned that he will take 25% of his profits once the price reaches his first target. Additionally, he plans to secure another 25% at his second and third targets, retaining the last 25% as a ‘moon bag.’
Egrag Crypto also suggested that investors should consider selling 5% of their holdings each time XRP’s price rises by a predetermined amount. He emphasized the importance of first reclaiming the initial investment and then integrating his profit-taking plan. He encouraged investors to wait for their designated target and liquidate their positions once it is achieved.
Moreover, the analyst advised reinvesting profits into low to mid-cap projects that show potential for significant growth. However, he cautioned that this approach carries high risks, especially if investors lack a solid understanding of their next steps. For those looking to hold long-term, Egrag Crypto suggested that they might consider buying continuously for the next decade to 15 years without selling.
Egrag Crypto anticipates that XRP could rise to between $27 and $33 during this market cycle, after which he intends to maintain his moon bag. Until that time, he remains focused on recouping his initial investment through percentage-based selling methods. He plans to release 10% of his overall holdings at specific points until it hits the $27 to $33 target range.
Review of Current Price Trends
In a recent post on X, crypto analyst Dark Defender indicated that XRP has successfully broken through on the weekly chart, surpassing $2.2222 and reaching $2.3620 before correcting to around $2.07. The analyst noted that the asset’s monthly Wave 5 is progressing strongly.
He pointed out that the weekly Relative Strength Index (RSI) for XRP has turned bullish, supporting the anticipated rally towards a range of $5.85 to $6.39. Dark Defender mentioned that Wave 5 will be structured with five Sub-Waves containing fluctuations.
Meanwhile, fellow analyst Ali Martinez has also provided an optimistic forecast for XRP, suggesting it could reach $15. In a post on X, he explained that if the prevailing formation behind the altcoin aligns with the symmetrical triangle he referenced, the target could indeed be $15.
At present, XRP is trading around $2.38, experiencing a decline of over 1% in the last 24 hours, according to CoinMarketCap’s data.
