XRP News Today: Crypto Beast Holds 1.83 Million XRP Aiming for 151% Gain

XRP has recently experienced significant market volatility, with its value dropping below $2.20 before recovering to stabilize around $2.17. This fluctuation has reignited discussions about the long-term prospects of XRP. While many traders adjusted their positions in response to the dip, one trader, known as Crypto Beast, has taken a different approach. Crypto Beast holds a substantial amount of XRP, approximately 1.83 million tokens, which were acquired at an average cost of $0.836. This purchase was made before the November 2024 price surge, when XRP reached a multi-year peak of $3.39. Despite this significant price increase, Crypto Beast did not sell any of his tokens.

Crypto Beast has publicly stated that he has never sold any of his XRP holdings and has no plans to do so. His goal is to turn his current holdings into $10 million. At the time of his public update, XRP was priced at around $2.13, making the value of his investment approximately $3.9 million. To achieve his $10 million target, XRP would need to reach $5.45 per token, representing a 151% increase from current market levels. Experts have noted bullish technical indicators on XRP’s chart, and a popular analyst has predicted that the digital asset will soon create more millionaires, potentially setting the stage for Crypto Beast to reach his goal.

Crypto Beast’s investment strategy involves holding his XRP tokens on the spot market, which means he is not exposed to the risk of forced liquidations due to leverage. This allows him to maintain his position through market downturns without facing mandatory closures. His approach contrasts with high-leverage trading strategies, which can lead to significant losses during market corrections. For example, James Wynn, who gained fame from PEPE, lost $125 million through high-leverage Bitcoin trades on Hyperliquid due to sharp corrections that triggered massive liquidations of his long position. This event highlighted the risks associated with high-leverage trading and the potential for market manipulation by exchanges.

Some commentators have advised investors to adopt a long-term outlook on XRP. Edoardo Farina, for instance, has recommended accumulating XRP and not selling significant amounts until the asset reaches $100. He also advised investors to move their tokens to cold storage to protect their investments from manipulation or loss due to exchange issues. Following this advice could potentially turn investors into millionaires if XRP rises in value, similar to Crypto Beast's strategy.

Crypto Beast’s unwavering belief in XRP’s potential and his long-term holding strategy demonstrate a level of conviction that is rare in the crypto trading community. By avoiding the temptation to sell during market fluctuations, Crypto Beast aims to capitalize on the long-term growth potential of XRP, ultimately turning his 1.8 million token holdings into a $10 million investment. This strategy, while risky due to the volatility of the crypto market, reflects a strong conviction in XRP’s future value.