XRP News: Ripple's XRP Ledger Faces Halt, XRP Price Drops to $2.45 | Coinspeaker
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XRP News: Ripple’s XRP Ledger Faces Halt, XRP Price Drops to $2.45

Ripple’s XRP Ledger faced a 64-minute halt due to validation issues, with XRP price dropping to $2.45 before rebounding to $2.50.

Parth Dubey By Parth Dubey Julia Sakovich Edited by Julia Sakovich Updated 3 mins read
XRP News: Ripple’s XRP Ledger Faces Halt, XRP Price Drops to $2.45
Photo: Shutterstock

Key Notes

  • The XRP Ledger experienced a 64-minute network freeze on February 4 due to a validation issue.
  • Ripple CTO David Schwartz noted that consensus appeared functional, but validations were not published.
  • XRP briefly dropped to $2.45 during the outage, recovering 3% to $2.50.

The XRP Ledger, a decentralized blockchain associated with Ripple, encountered a technical glitch that froze network activity for 64 minutes on February 4. According to Ripple’s Chief Technology Officer David Schwartz, validations were not being published despite consensus appearing functional, causing the network to drift apart.

The network resumed operations at 10:58 am UTC following manual intervention by validator operators.

Schwartz shared on X that validator operators chose a “sane starting point” to build consensus and reinitiate the network’s validation process. He described the situation as a “silent network failure,” where validators stopped sending validations to avoid accepting potentially flawed ledgers.

This incident delayed an estimated 88,000 transactions, based on the XRP Ledger’s typical daily activity of 2 million transactions executed by 30,000 to 60,000 unique senders. Despite the disruption, Ripple assured users that customer funds remained secure throughout the event.

Ripple CTO Explains Recovery Process

While the exact root cause is still under investigation, Schwartz hinted at a self-healing network mechanism, noting that only one validator operator manually intervened. He stated that tentative ledgers produced during the outage were discarded, ensuring no majority-validated ledgers were lost or compromised.

This technical issue has reignited debates about Ripple’s centralized network structure, with comparisons being drawn to more decentralized networks like Ethereum, which boasts over a million daily active validators.

Pierre Rochard, Vice President at Riot Platforms, questioned Ripple’s transparency on X, demanding a detailed post-mortem report. Notably, this is not the first time the XRP Ledger has faced disruptions; previous incidents in November and September 2024 required emergency patches.

XRP Price Movement

XRP XRP $2.56 24h volatility: 4.8% Market cap: $147.93 B Vol. 24h: $4.52 B hit a 24-hour low of $2.45 during the network halt but rebounded by 3% to $2.50 as of writing, according to CoinMarketCap data. The token has experienced massive gains since Donald Trump’s US election victory, surging around four times since November 5.

On the 4-hour chart, XRP is currently below the 20-period simple moving average (SMA) of the Bollinger Bands, indicating bearish pressure. The token has an immediate resistance at $2.60, with support at $2.45. A decisive move above $2.60 could signal a bullish breakout, pushing XRP toward the upper Bollinger Band around $2.92.

XRP Price Analysis

Source: TradingView

The Relative Strength Index (RSI) stands at 40, approaching oversold territory but showing signs of recovery. A sustained RSI move above 50 could further confirm bullish momentum. However, a breakdown below $2.45 may lead to a bearish scenario, with potential declines toward $2.29.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News, XRP News
Parth Dubey

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

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