Zcash (CRYPTO: ZEC) has bounced 45% from last week’s $300 low to $437 after developers proposed an upgrade to fix the counterfeiting bug, while XRP (CRYPTO: XRP) attempts a fragile recovery after falling nearly 19% last week.

Ironwood Proposal Would Let Anyone Verify Zcash Supply Is Clean

Developers from Shielded Labs, the Zcash Foundation, and the Zcash Open Development Lab proposed creating a new privacy pool using repaired code.

Once active, anyone running Zcash software can add up balances across pools and confirm no more than the correct amount of ZEC exists.

The proposal also examines whether anyone ever exploited the bug.

Shielded Labs maintains that attackers were unlikely to exploit the bug because it went undetected for four years.

Investor Chamath Palihapitiya highlighted the upgrade in his newsletter, noting it gives node operators a way to verify the supply is clean without trusting the developers’ word.

Developers have not given a firm timeline, warning that building, testing, and coordinating the upgrade across the network could take longer than expected. ZEC remains down roughly 22% on the week despite the bounce.

Why XRP Is Struggling: Death Cross Still Active After 19% Weekly Drop

XRP is attempting recovery after capitulating to $1.10 lows last week. The June 3 to 5 candles formed a hammer and doji cluster near $1.15, with RSI recovering from the extreme oversold reading of 18 back to 32.42, the fastest RSI recovery visible on this chart.

The full bearish EMA stack overhead remains intact with the 20 EMA at $1.2508, 50 EMA at $1.3255, 100 EMA at $1.4123, and 200 EMA at $1.6175 all acting as resistance. 

The steep descending trendline from August 2025’s $3.60 peak continues to cap recovery attempts.

Holding above $1.15 and breaking the descending trendline targets $1.2508 then $1.3255. Losing the $1.08 stop loss level reopens a retest of $1.00 then $0.90.

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