Maker

Impact

Delta

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/xrp-price-downtrend-continues-despite-ripplex-update" rel="noopener noreferrer nofollow">XRP Price Downtrend Continues Despite RippleX Update</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/bitcoins-volatility-a-test-of-patience-and-potential-for-long-term-gain" rel="noopener noreferrer nofollow">cryptocurrency</a> market has witnessed a significant downturn, including the decline of <a href="https://en.bitcoinhaber.net/xrp-ledger-enhances-capabilities-with-rippled-2-0-release" rel="noopener noreferrer nofollow">XRP</a>, a well-known digital currency. Despite RippleX, the developer platform of <a href="https://en.bitcoinhaber.net/exploring-ripples-strategic-moves-and-legal-milestones" rel="noopener noreferrer nofollow">Ripple</a>, implementing a new update to their Automated Market Maker (AMM) on the XRP Ledger, the price of XRP has failed to show recovery and remains below the $0.60 threshold. This persistent underperformance has led to a bout of disappointment among XRP investors.</p>
<h2 id="ripplex-update-fails-to-spark-recovery">RippleX Update Fails to Spark Recovery</h2>
<p style="text-align: justify">RippleX’s recent update introduced the ‘fixAMMOverflowOffer’ change, which was expected to rejuvenate the AMM functionality. Yet, the price of XRP did not experience the anticipated uplift following this development. This stagnation occurred even before the larger market downturn, indicating a lack of positive response to Ripple’s development efforts. Additionally, there’s been a noted decrease in Ripple’s development activity, potentially reflecting a decline in efforts to enhance the network.</p>
<h2 id="stagnant-network-growth-and-low-liquidity-impact-xrp">Stagnant Network Growth and Low Liquidity Impact XRP</h2>
<p style="text-align: justify">A key metric indicating a troubling sign for XRP is the slowed network growth, measured by the count of new addresses interacting with the network—currently on the decline. This trend suggests a diminishing adoption potential for the cryptocurrency. Moreover, liquidity levels have impacted XRP’s price, with a noted lack of robust liquidity in the $0.60 to $0.61 price range. This scenario raises the risk of minimal liquidation for both long and short positions in the market.</p>
<h2 id="negative-signs-from-clld-metric">Negative Signs from CLLD Metric</h2>
<p style="text-align: justify">The Cumulative Liquidation Levels Delta (CLLD) metric, which reflects the balance between liquidated short and long positions, is also presenting a negative outlook. Presently, the metric indicates that short positions are experiencing more liquidations compared to long positions. As of the latest figures, XRP is being traded at $0.54.</p>
<h3 id="points-to-consider">Points to consider</h3>
<ul>
 <li>RippleX’s ‘fixAMMOverflowOffer’ update did not manage to boost XRP’s price as expected.</li>
 <li>There is a concerning decline in the number of new addresses on the XRP network, hinting at lessened adoption prospects.</li>
 <li>Current liquidity levels for XRP suggest that traders may face minimal liquidation amounts, increasing market vulnerability.</li>
 <li>The CLLD metric’s negative signal indicates a challenging market environment for XRP with more short positions being liquidated.</li>
</ul>
<p style="text-align: justify">The price trajectory of XRP, influenced by various factors such as reduced development activities and network growth, as well as liquidity fluctuations, has led to its value falling below $0.60. The future of XRP’s price movement is uncertain, requiring investors and market observers to remain vigilant and monitor the market for any changes. Patience will be key as the community watches to see if this trend represents a longer-term setback or a temporary dip.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/xrp-price-downtrend-continues-despite-ripplex-update" rel="noopener noreferrer nofollow">XRP Price Downtrend Continues Despite RippleX Update</a></h5>

XRP Price Downtrend Continues Despite RippleX Update

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