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Decrease in XRP Price and Ripple Update.
XRP, one of the leading units in the cryptocurrency market, has lost value as part of the general downward trend in the market. Especially the fact that XRP fell below $ 0.60 despite RippleX's update attracted attention in the market. Despite Ripple's developer platform RippleX relaunching AMM functionality, the expected increase in XRP price did not materialize.
The price of XRP remained unresponsive to the update called 'fixAMMOverflowOffer' made by RippleX and the price could not reach the desired level. It is also said that Ripple's development activities have decreased and this may reduce interest in the development of the network.
Analysis of the growth of the XRP network shows a decrease in new interactions, negatively impacting token adoption. However, XRP's low liquidity levels also put pressure on the price, making it easier for positions to be liquidated.
The Cumulative Liquidation Levels Delta (CLLD) metric also gives negative signals for XRP and reveals that more short positions are being liquidated. The price of XRP is at $0.54 at the time of writing.
*It appears that RippleX's update that restarted the AMM functionality did not have the expected impact on the XRP price.
*The decline in the network's growth rate has a negative impact on XRP adoption.
*Low liquidity levels and negative signals seen in the CLLD metric are among the factors that triggered the decline in the XRP price.
XRP investors and market observers were faced with the price falling below $0.60 under the influence of the decline in development activities, slowdown in network growth, and changes in liquidation levels. In addition to these factors, uncertainties continue as to whether the current situation will be temporary or permanent. It is known that investors are waiting patiently.
