XRP analyst Egrag Crypto has alluded to an analysis in which he revealed his ultimate targets and selling strategy for the altcoin. This comes as the altcoin’s price rebounds, looking to break the $3 resistance and reach new highs.
Analyst Highlights Strategy As XRP Price Rebounds
In an X post, Egrag Crypto highlighted his ‘ultimate targets and selling strategy’ for XRP. For his profit-taking strategy, he stated that he will take 25% of his profit when the price hits his first target. The analyst also plans to take another 25% at his second and third targets, while he will keep 25% as a ‘moon bag.’
As part of his strategy, Egrag Crypto also advised market participants to sell 5% of their holdings every time the XRP price increases by a set amount. He noted that the first goal is to recover initial capital by securing one’s investment and then combining his profit-taking strategy. The analyst advised investors to wait for their target and sell everything when it is reached.
Furthermore, the analyst told market participants to rotate their profits by reinvesting in low to mid-cap projects for potential exponential growth. He warned that this is high risk, especially if investors don’t fully understand their next moves. For long-term holders, Egrag Crypto remarked that they can just keep buying for the next 10 to 15 years without selling.
Egrag Crypto predicted that the XRP price will reach between $27 and $33 in this market cycle, after which he plans to hold a moon bag. Until then, the analyst is focused on recovering his initial capital by following percentage-based selling strategies. He will unlock 10% of his total holdings at specific targets and continue this approach until it reaches the $27 to $33 range.
Analysis Of The Current Price Action
In an X post, crypto analyst Dark Defender revealed that the XRP price had a clear break on the weekly timeframe after surpassing $2.2222 and touching $2.3620. Following that, the asset corrected to around $2.07. The analyst asserted that the altcoin’s monthly Wave 5 is progressing at full speed.
He further stated that the weekly Relative Strength Index (RSI) for the XRP price has turned bullish, which the analyst claimed endorses the current structure’s projected rally to between $5.85 and $6.39. Dark Defender added that Wave 5 will be in five Sub-Waves with ups and downs.
Meanwhile, crypto analyst Ali Martinez also provided a bullish outlook for the XRP price, predicting it could reach $15. In an X post, he stated that if the governing pattern behind the altcoin is the symmetrical triangle he highlighted, then the target could be $15.
At the time of writing, the XRP price is trading at around $2.38, down over 1% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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