XRP Ledger Resumes After Network Freeze—Can Bulls Push XRP Past Resistance?

After a 64-minute network freeze on Feb. 4 that restricted validations and delayed tens of thousands of transactions, Ripple’s XRP Ledger is now operational again. David Schwartz, the company’s chief technology officer (CTO), offered preliminary information about the event and reassured customers that their money was safe during the disruption.

Around 10:00 am UTC, Ripple network activity froze at block height 93,927,174, according to XRP Ledger explorer page. The network was “drifting apart” because validations were not being published, even though consensus mechanisms seemed to operate regularly. 

In a Feb. 4 X post on X, Schwartz clarified that validator operators had to manually step in by choosing a balanced starting point to restore a coordinated ledger stream. With only a few Unique Node List (UNL) validators making any changes, the network was able to reboot at 10:58 am UTC thanks to the validators’ prompt and decisive response. This suggests the XRP Ledger may have partially recovered on its own.

XRP Ledger Outage Effect on Transactions

Approximately 88,000 transactions were delayed during the XRP Ledger outage, out of a daily flow of about 2 million transactions from 30,000 to 60,000 distinct senders. Ripple’s X account verified that customer funds remained safe during the incident, despite the downtime. 

Also read: XRPL: An Overview of the XRP Ledger

The market performance of XRP, meantime, had a temporary decline, falling to a 24-hour low of $2.45. However, according to CoinGecko data, the token swiftly recovered by 3.2% to $2.53. 

Notably, since Donald Trump won the US election on Nov. 5, XRP has risen 396%, making it one of the cryptocurrency industry’s best performers during this period.

XRP Centralization Debate Re-Ignited

The network halt sparked chatter about Ripple’s centralized setup after Daniel Keller, chief technology officer of XRPL node operator Eminence, pointed out that “all 35 nodes” were back validating transactions.

Meanwhile, Brad Garlinghouse, the chief executive officer (CEO) of Ripple Labs, is working hard to position XRP as a US reserve asset, which might have a big impact on the token’s future in light of changing market and legal conditions. 

XRP Price Prediction: Can XRP Recover the Recent Losses?

XRP’s daily chart reflects a pivotal moment as price action hovers near critical support and resistance zones. After a period of volatility, the cryptocurrency is testing a key support level, and technical indicators suggest a possible shift in momentum.

The 9-day and 20-day exponential moving averages (EMAs) are trending lower, signaling a short-term bearish sentiment. With the shorter EMA staying below the longer EMA, selling pressure remains dominant. However, if buyers step in and push XRP beyond immediate resistance, this setup could shift in favor of bulls. A decisive move above $2.7245 could reignite bullish momentum, with the next key target sitting near $3.1276.

Also read: How to Buy XRP Safely

Momentum indicators, including the MACD and RSI, suggest a weakening bearish trend. The MACD histogram is showing a negative divergence, indicating fading selling pressure. Meanwhile, the RSI is hovering near neutral levels but has struggled to maintain strength above 50, reflecting the market’s uncertainty. If the RSI can break into bullish territory, it could confirm a trend reversal, offering traders confidence in a potential breakout.

Traders looking for long entries might consider waiting for a confirmed breakout above $2.7245, with a potential target near $3.1276. Conversely, failure to hold the current support zone could open the door for a deeper pullback toward $2.2712, with a more substantial floor at $2.2124. Bears might eye short opportunities if rejection at resistance strengthens, aiming for the lower support levels.

In the near term, XRP remains at a crossroads, and the next decisive move could set the tone for the coming days. Market participants should keep an eye on key levels and volume spikes for confirmation before committing to a directional bias.

Also read: Is XRP a Good Investment? What To Know

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