Ripple (XRP) price has reached a new all-time high, sparking discussions among its holders. Analyst EGRAG CRYPTO shares thoughts on the current rally and its potential timeline.
EGRAG’s Selling Strategies for XRP
EGRAG noted that his inbox is flooded with questions about when to sell XRP. He advised developing a personal selling strategy to manage the process. Common tips include:
- Selling in percentages upon reaching specific price targets. - Selling small amounts each time the price increases by a fixed amount. - Recovering initial investments first before utilizing other methods.
Some holders may prefer not to sell at all, opting to keep XRP long-term or pass it down to the next generation.
Technical Analysis and Predictions
In his technical analysis, EGRAG pointed out that the 21-day and 33-day simple moving averages have made a bullish crossover. Historically, this signal has preceded XRP's price increase by 56 and 91 days in previous cycles. Based on this data, EGRAG expects the current rally to peak between the first and second week of September.
Significance of Long-Term Holding
EGRAG also shared his approach to holding XRP. He plans to unlock 10% of his tokens at key price milestones and will continue doing this until the $27-$33 range. The remaining tokens he will hold as a long-term 'moon bag.'
In the face of market fluctuations, having a clear strategy is essential. By following a plan, traders can act confidently, managing both short-term sales and long-term asset holdings.
