• 24 June, 2024
Market News

Bitcoin Trader’s $500K XRP Investment Creates a Buzz, XRP Surges

In an astounding turn of events in the XRP community, an elite Bitcoin trader, known on X as Doctor Profit, invested half a million dollars into XRP. According to the trader’s recent X post, they have expanded their long-term XRP position by entering the XRP market at a price of $0.56 per token.

https://twitter.com/DrProfitCrypto/status/1758318524458573838

Notably, the trader acquired a total of 888,353 XRP tokens on February 16 in two purchases, each valued at $268,795.97 and $228,710.60. In the initial purchase, they bought 479,965 XRP tokens, and after a couple of minutes, they added 408,388 more tokens to their portfolio.

The Bitcoin trader’s massive purchase of XRP was crucial, especially considering the token’s recent declines. Distracted by the bearish trajectory of XRP, the community began showing disappointment with the market, urging Ripple executives to take necessary actions. Mack, an XRP enthusiast from the Netherlands, shared an X post calling Ripple CEO Brad Garlinghouse’s attention to the matter.

https://twitter.com/MackAttackXRP/status/1755998321921962361

While Mack commented, “Things are really going in the wrong direction with XRP,” other members of the community echoed the sentiment, stating, “Now, it’s time that they start doing something and fast.” The community’s frustration was driven by the severe fluctuations and declines in the XRP market, mirroring 2017.

Over the past month, XRP has been moving through a descending track, with its price reaching a monthly low of $0.4929 on February 2. However, over the last 24 hours, especially following the Bitcoin trader’s remarkable move, XRP has seen a surge of 2.53%. Currently, XRP’s price stands at $0.5615, marking a remarkable weekly hike of 7.80%.

Meanwhile, another Bitcoin trader shared the screenshot of his XRP holdings, predicting XRP’s potential price hike, targeting $3 to $7. According to their X post, the trader currently holds 180,738 XRP valued at $102,746.

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