Recent market disruptions and expected concerns have prompted several bitcoin firms to begin layoffs.
However, Ripple’s situation is entirely different, since its CEO Brad Garlinghouse recently declared that his business was in such strong financial form that it could still recruit hundreds of workers worldwide.
Ripple claims to have a huge cash flow, allowing it to pay its staff as normal without having to lay off workers, even in a bad market.
As a result, Ripple should be able to capitalize on the present scenario by luring experts who are being laid off elsewhere.
Technical benchmarks for the ripple pricing
Ripple is up 2.8% in the last 24 hours, with XRP/USD trading at $0.3193.
Yesterday, the cryptocurrency climbed until it broke over the previous cycle low of $0.3366, and a close price occurred above this level. However, the upward impetus faded fast, and the price returned to the 123.6% Fibo expansion of $0.2610.
Only a daily closing above the 23.6% retracement level of $0.3794 would indicate that the latest bout of weakness has been temporarily halted.