XRP Return Tops 830 Percent as Trader Sticks to Long Position

Crypto trader Crypto Michael remains optimistic about XRP's future performance, despite its already impressive return. He entered a long position on XRP/USDT perpetual futures with 20-times leverage last month and has seen a return of over 830 percent, although this reflects the amplified effect of leverage rather than the actual price gain.

The mark price is $1.4036, which is $0.4118 above the entry price of $0.9918, implying an actual price increase of about 41.5 percent.

Crypto Michael expects the uptrend to continue and has been accumulating XRP since July 1, when it was trading near the lower end of a large falling wedge pattern formed after a drop from above $3.

He warned investors not to remain on the sidelines, saying 'You will soon know why' he is accumulating XRP. However, it's essential to note that the disclosed return does not mean final realised profit and can vary depending on liquidation point, trading fees, and funding fees.