A prominent Bitcoin advocate known as MMCrypto recently shared how he leveraged XRP, Bitcoin, and Ethereum positions to generate over $9 million in profits—even though he "doesn’t like XRP."
The Trades Behind the $9M Profit
1. XRP Trade: 48.21% Gain
- Entry Point: $0.5757 (10x leverage)
- Liquidation Risk: $0.5228
- Exit Price: $0.6035
- Result: $11,987 unrealized profit
2. Bitcoin Trade: 535.23% Gain
- Initiated in February at $46,056 (17x leverage)
- Peak Price: $67,538
3. Ethereum Trade: 2,587% Gain
- Opened Q4 2023 at $1,599 (49x leverage)
- Current ETH Price: >$3,000
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Why XRP? A Reluctant Investment
MMCrypto admitted his shift from skepticism to trading XRP was purely profit-driven:
"I’m not an XRP fan at all. I bought it to capitalize on gains."
The timing aligned with XRP’s 60% price surge in early 2024, briefly making it the top-performing large-cap crypto.
Risk Warnings and Strategy
- High Leverage = High Risk: MMCrypto labeled his approach "gambling."
- Spot Holdings: He also holds XRP outright, reducing some exposure.
FAQs
Q: Is XRP a good investment now?
A: While its recent surge attracted traders, MMCrypto’s success relied on precise timing—not long-term belief in XRP.
Q: What’s the safest way to trade crypto?
A: Avoid extreme leverage. Spot trading or low-margin positions minimize liquidation risks.
Q: How did ETH outperform BTC and XRP?
A: Ethereum’s longer trade duration (since 2023) compounded gains, especially with 49x leverage.
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Key Takeaways
- Profit ≠ Preference: You can trade assets you dislike successfully.
- Leverage amplifies gains (and losses). MMCrypto’s 49x ETH position was exceptionally risky.
- Market timing matters. XRP’s short-term surge created a fleeting opportunity.
Disclaimer: Trading cryptocurrencies involves significant risk. This content is for informational purposes only.