Coin

<ul class="news-points"> 
 <li>A sharp drop in XRP’s price wipes over $5.58 million in long positions on exchanges.&nbsp;</li> 
 <li>Egrag Crypto reassured XRP community members that the token is still on track to hit the $1.4 target.&nbsp;</li> 
 <li>The analyst said the unexpected decline illustrates the unexpected nature of the crypto space.</li> 
</ul> 
XRP’s downward slide in the early hours of today has caused a significant uptick in long trading position liquidations across exchanges. This development comes amidst a wider slump in the cryptocurrency market.&nbsp;&nbsp; 
Reacting, crypto analyst Egrag Crypto, in a <a href="https://twitter.com/egragcrypto/status/1734087199585403350" target="_blank" rel="nofollow">post</a> on X, said the “recent flash crash swiftly cleared out a significant number of long positions.” According to the analyst, the unexpected liquidations illustrate the unpredictable nature of the crypto space, cautioning that leveraging trades can lead to devastating losses.&nbsp; 
Despite the crash, the analyst reiterated his optimism that <a href="https://coinedition.com/ripple-xrp-price-prediction/">XRP’s trading value</a> will still see a significant increase. “#XRPArmy STAY STEADY; our trajectory towards $1.4 remains unchanged, despite the market turbulence,” he tweeted.&nbsp; 
Turning to cryptocurrency data tracker Coinglass, <a href="https://www.coinglass.com/currencies/XRP" target="_blank" rel="nofollow">data</a> shows over $5.58 million were wiped out on exch…
The post <a href="https://coinedition.com/analyst-reiterates-confidence-in-xrp-as-5-58m-wiped-out-in-long-positions/">Analyst Reiterates Confidence in XRP as $5.58M Wiped Out in Long Positions</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Analyst Reiterates Confidence in XRP as $5.58M Wiped Out in Long Positions

Coin Edition

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