Tax Strategy for XRP: Lawyer Urges Caution Before Dipping for Altcoins

• Jeremy Hogan advises crypto holders to be cautious of crypto tax as they optimize for profit in the bull run.
• He pointed out the tax advantages of not liquidating XRP held for over a year.
• Per the lawyer, long-term capital gains incur a lower 15% tax rate than the higher 30% rate for short-term gains.

Prominent legal expert Jeremy Hogan, Partner at ‘Hogan & Hogan’ has offered counsel to crypto holders, urging caution in the disposition of their XRP assets. In a recent post on X, Hogan shared guidance with crypto investors looking to maximize their tax efficiency amid the anticipated crypto bull market. The lawyer’s counsel targeted crypto enthusiasts based in the United States.

He advised considering the tax obligation on their crypto investment from the angle of the duration of the token holdings. Hogan pointed out that maintaining a token for over a year could result in a more advantageous tax scenario. He noted that long-term capital gains, applicable to tokens held for more than a year, incur a tax rate of 15%. 

Conversely, a 30% rate is applied to short-term gains from tokens held f…

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