Hacking News
XRP Defends Local Bottom Despite Crypto Hack
XRP, the popular cryptocurrency, has held its ground despite a significant vulnerability in its codebase that could have led to a massive loss of $94 billion in market capitalization. The vulnerability, discovered in 2015, was patched before it was made public. The incident, revealed by Veria Labs, involved an integer overflow bug that could have allowed the issuance of 184 times the network's entire fixed supply of XRP. The XRP/USD pair is currently trading around $1.388, with daily fluctuations within 1%. The market reaction to the news was muted, with the asset finding support in the $1.32–$1.37 range. The main technical obstacle to an upward move remains the $1.50–$1.70 resistance zone, where previous local highs are concentrated. The incident highlights the importance of timely vulnerability patches in the cryptocurrency industry.