XRP price falls as crypto long positions get wiped out; UE crypto aims to provide stable passive income

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. XRP lost momentum after a brief rebound to $1.40, subsequently falling below $1.29. XRP was not alone, as the cryptocurrency market once again came under selling pressure. Reports indicated that more than $220 million in cryptocurrency long positions were liquidated within 12 hours as Bitcoin and Ethereum fell to around $81,000 and $2,300, respectively. Meanwhile, large XRP holders have been transferring their XRP to exchanges. According to crypto analyst Darkfost, they transferred $112.4 million worth of XRP to Binance, marking the highest level in seven months. BeInCrypto reported that this move indicates increasing selling pressure. Even so, this week’s rebound remains relatively small compared with September. Over the past four weeks, the fund received $18.5 million in new inflows, while inflows reached $75.6 million in the week ending September 25 alone. With the price of XRP falling, the UE cryptocurrency cloud mining platformhas become a new investment alternative for XRP holders. Against this backdrop, an increasing number of inve...