Ripple’s (XRP) investors encountered transaction glitches on XRPL Ledger’s automated market maker (AMM) pools on Monday.
The team advised users to refrain from funding AMM pools until further updates. Meanwhile, Ripple’s latest blog emphasizes that a team comprising tequ, XRPL community, RippleX, and Orchestra Finance quickly identified the AMM malfunction.
The issues affected the payment engines, disrupting liquidity flow through automated market maker pools.
The blog added that the developers have fixed the XRPL glitch and will release it upon reviewing and testing.
Nonetheless, XRP Ledger validators should vote for the solution before official release. Further, 80% of the participants should support the amendment within two weeks before activation.
Ripple reminded market players and XRP traders to redeem their LP coins and avoid depositing into XRPL’s AMM pools until a decisive solution.
The AMM bug fix is open for review on GitHub and will be in the 2.1.1 release of rippled. We’ll also publish a blog post tomorrow with more info about what happened and next steps. https://t.co/Z5v0cTvOvF
— RippleX (@RippleXDev) March 27, 2024
XRP price outlook
Ripple’s altcoin traded with a bearish note, down 4.25% in the past day to $0.6203. The weekly chart shows XRP maintained sideways movements beneath the resistance at $0.75 since July last year.
XRP 1D Chart on Coinmarketcap
The token rebounded each time it hit the $0.4743 support towards the $0.75 higher range. Overcoming this hurdle could propel XRP towards $0.86 before stable surges to new ATHs.
However, sudden bearishness that triggers a weekly candle close beneath the $0.4743 support would ruin the anticipated recovery. That might plunge the XRP price towards the liquidity level at $0.2879.
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