- Public XRP ledger nodes “s1” and “s2” run by Ripple fell out of sync with the XRP ledger for over 5 hours yesterday.
- Non-custodial XRP wallet Xumm was not functioning well, disrupting usage and accessibility.
- Ripple engineers to work on increasing public node capacity.
- XRP continues flooding exchanges, whale moves 40.4 million worth of tokens and sells on Binance.
XRP ledger needs improvements to its “Trust Line” related traffic to increase the capacity of nodes to handle simultaneously active users.
Out of sync XRP nodes disrupt wallet services
Two XRP nodes run and maintained by Ripple and developers, “s1” and “s2,” recently fell out of sync with the network. The disruption lasted 5 hours, and users of non-custodial wallets like Xuum and xrplcluster.com were impacted.
The public XRP Ledger nodes by @Ripple @RippleXDev, "s1" and "s2" (full history) are out of sync. with the XRP Ledger for over 5 hours now.
— XUMM Support (@XummSupport) November 30, 2021
This results in apps using these services (like our own @XummWallet xApps (if https://t.co/HzBcVgXrl2 is too busy) not functioning well.
Though XRP has a throughput of 1500 transactions per second (tps), this does not account for “Trust line” transactions on the network.
When users plan on receiving payments in anything other than XRP, they need a trust line to that asset’s issuing account. This helps avoid token spam and gives users the power to decide what assets to hold and receive without any negative effect on the XRP wallet or balance.
The amount of “Trust lines” and tokens on the XRP network has exploded beyond the tested or expected numbers. This has disrupted the activity of the XRP ledger’s public nodes. XRPL public nodes and clusters are being scaled up but aren’t ready for a higher volume of “Trust lines” transactions.
A cryptocurrency analyst, @WKahneman, shared his outlook on the challenges faced by XRP Ledger in a recent tweet.
A synopsis of recent XRPL issues cherry picked from @WietseWind & @XummSupport threads. Lots to learn & maybe even free them from answering the same ?'s over and over. It's a long thread but see it through. Some important XRPL things are going on.
— WrathofKahneman (@WKahneman) November 30, 2021
1/12https://t.co/gI3KlDyw5U
Transactions on the applications using the two nodes are held up, and switching to other nodes like xrplcluster.com can create backup there.
Ripple engineers are working on increasing public node capacity.
Whales are flooding exchanges with XRP tokens. A mysterious whale recently moved 40 million XRP to Binance and sold the holdings. XRP has failed to recover from the recent price drop.
FXStreet analysts have evaluated the XRP price trend and predicted a nasty bear trap.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
XRP price stuck under $0.65 despite Bitcoin hitting $38,000 three times in one week
Ripple (XRP) and Bitcoin (BTC) prices do not show parity. Despite both featuring among the crypto top three, Ripple price is stuck under $0.6500 while Bitcoin has managed to foray north, testing the $38,000 psychological level for the third time in a week.
FTX token FTT jumps 8% as exchange wins approval to start selling $744 Million in Grayscale and Bitwise assets
FTX token (FTT) has jumped 8% following news that a US bankruptcy court of Delaware has allowed the now-defunct cryptocurrency exchange to move forward with a November 6 request.
Optimism price slips under critical support as $40 million worth of OP due to flood market Thursday
Optimism (OP) price has dropped 5% in the last day, but trading volume is up a stark 15% over the last 24 hours as of press time. The disparity comes amid expectations of more tokens in the OP market relative to what traders are willing to buy at current prices.
Pando becomes thirteenth BTC ETF applicant as BlackRock presents revised in-kind model
/definition-of-etf-21007500_XtraSmall.jpg)
Amid the ongoing spot Bitcoin ETFs race, a new player has joined the marathon. Pando Asset AG has become the thirteenth applicant even as the US Securities & Exchange Commission (SEC) continues to engage with prospective issuers.
Three key BTC accumulation levels before ETF approval in January 2024
Bitcoin, from a high time-frame perspective, has been in an up-only trend since the start of 2023. BTC has ignored many sell signals due to the likelihood of an Exchange-Traded Fund approval. With the holidays around the corner, falling liquidity could see BTC discounted from its current level, hovering around the $37,000 region.