This Trader Just Dumped 35% of His XRP Bag. Here’s Why
Main Idea
A trader sold 35% of his XRP holdings to invest in Flare Network (FLR), believing FLR has greater short-term growth potential due to its upcoming FXRP launch and institutional backing, while retaining the rest of his XRP for long-term holding and staking.
Key Points
1. The trader, 'A Knowing Faith', sold 35% of his XRP to invest in FLR, citing FLR's $1.5 billion market cap, upcoming FXRP launch, and institutional relationships as reasons for its short-term outperformance potential.
2. XRP is currently trading at $2.80 with a $165 billion market cap but has struggled to stay above the $3 resistance level, with recent large transactions sparking speculation about price drops.
3. FLR is trading at $0.0222 with a $1.54 billion market cap and has seen steady development, including the Flare Time Series Oracle (FTSO), which provides a unique edge in smart contracts.
4. The trader views FLR as the 'superstar of this cycle' and plans to stake his remaining XRP on the Flare Network for passive income.
5. The article mentions other market analyses and predictions about XRP and FLR but emphasizes that the trader's actions are based on his personal strategy and not financial advice.
Description
A well-known pseudonymous trader, who goes by the name “A Knowing Faith” on X, has made waves in the crypto community by announcing a significant portfolio shift. He revealed that he sold 35% of his XRP holdings, specifically the portion he had set aside for short-term trade, and reinvested the entire amount into Flare Network (FLR). His rationale is clear: with FLR’s market cap around $1.5 billion, the upcoming launch of FXRP, and already established institutional relationships, he believes the...
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