Important Analyst Sends Major Alert to Crypto Traders As Market Dips

According to the latest reports, it seems that there is an important alert being sent out these days abpit the crypto space. Check out the info below.

It’s been just reported that an important crypto analyst and trader who flipped bullish on Bitcoin (BTC) at its bottom is making a major adjustment to his portfolio.

The pseudonymous DonAlt has recently said the fact that he is taking profit on a significant portion of his holdings.

DonAlt bought BTC, Litecoin (LTC) and XRP in November, as the dust from FTX’s collapse began to settle and bad news no longer seemed to have an impact on the market.

His LTC and BTC holdings have ripped. It’s also worth noting the fact that his XRP has remained relatively stagnant.

“Reduced my oversized positions by ~50% overnight to secure some profits given both BTC monthly and weekly closed at resistance.

Since the initial post, these positions are:

BTC – Up 60%
LTC – Up 60%
XRP – Up 10%”

At the beginning of this month, it was revealed the fact that according to the latest reports, Ripple Labs’ XRP token has dropped 20% since the SEC sued the firm, and two top executives, over alleged unregistered securities sales back in December 2020.

It’s also been revealed that since then, Ripple Labs has poured billions of dollars into buying back the XRP token on secondary markets.

“Some reports have focused on Ripple Labs’ direct XRP sales in the fourth quarter of 2022. The move to acquire XRP tokens — ostensibly a bullish indicator — has been trumpeted as boosting the ecosystem’s liquidity,” Blockworks reports.

The same online publication mentioned above notes that those reports often link the nearly $3 billion of in-house sales to XRP’s fast-moving 27% pump in January.

Check out our previous article in order to learn more details about this.