XRP Ledger Experiences 64-Minute Halt, XRP Price Drops to $2.45
The XRP Ledger, linked to Ripple, experienced a 64-minute disruption on February 4 due to a technical glitch that halted network activity. Ripple's CTO David Schwartz stated that while consensus appeared functional, validations were not published, leading to network drift.
Key points include:
- Network resumed at 10:58 am UTC after manual intervention by validator operators.
- 88,000 transactions were delayed; typical daily activity is around 2 million transactions.
- Ripple confirmed customer funds remained secure during the incident.
- The root cause is under investigation; only one validator operator intervened.
- Previous disruptions occurred in November and September 2024.
XRP Price Movement
XRP reached a low of $2.45 during the outage but rebounded to $2.50. The token has surged approximately four times since November 5. Current resistance is at $2.60, support at $2.45. A move above $2.60 may lead to a bullish trend towards $2.92.
The Relative Strength Index (RSI) is at 40, nearing oversold conditions, with signs of potential recovery. A sustained move above 50 could indicate bullish momentum, while a drop below $2.45 might trigger further declines toward $2.29.
Source: TradingView