XRP Price Dips After Hack Raises Uncertainty

The price of XRP has been trading near $1.53 after pulling back from a recent high near $1.65, and is currently testing a rising trendline anchored to the Sept. 16 low around $1.25.

This trendline indicates short-term technical support for XRP, but the cryptocurrency's overall outlook remains cautious due to a multichain hack that affected the XRP Ledger on CEX Bitget, resulting in a security risk and uncertainty for holders.

On-chain metrics show a 365-day MVRV of about -11.75%, which Santiment suggests leaves room for XRP to recover.