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I would recommend to update it to at least 5.17; there were important changes since 5.16.
If you want to jailbreak it, then update to 5.17.x and run Winterbreak. Just make sure, that if you need to go online to register your Kindle with Amazon, to have the storage filled to prevent further updates.
If you don't want to jailbreak, then just let it update automatically.
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