A mysterious glitch in XRP’s price has surfaced on the U.S.-based exchange Kraken, showing an astonishing trading price of $62,032. Jimmy Crypto, a prominent user, initially highlighted this anomaly in a post on Wednesday, noting that he observed the erratic XRP price persisting for 10 minutes on Kraken. A screenshot accompanying his observation depicted multiple instances where traders purportedly placed buy and sell orders for XRP at around $62,032, significantly deviating from the prevailing market value of $0.476 on the platform.
This development has sparked renewed interest among optimistic community members who argue that such recurring price anomalies may actually indicate XRP’s true value. They view these incidents as evidence supporting their belief that XRP’s market price is intentionally suppressed.
“They can’t conceal it any longer,” remarked one community member.
However, scrutiny reveals that despite occurring across at least 12 transactions, the mysterious $62,032 price did not reflect in XRP’s 24-hour price change. Furthermore, Kraken reported no unusual trading volume for XRP, maintaining a consistent volume of approximately $4.8 million. This discrepancy raises doubts about the authenticity of the reported glitch, suggesting it may have been influenced by browser malfunctions distorting order book data, as suggested by user Sabr. Sabr further speculated that similar anomalies could be replicated by swiftly switching between currency pairs.
Adding credibility to this assessment, Bitcoin traded around $62,000 on the same day Jimmy observed the glitch, opening at $61,789.68, hitting an intraday peak of $62,434.14, and closing at $60,811.28 on June 26.
This incident is not an isolated case within the XRP community, which has previously reported various price irregularities across different trading platforms. The “XRP Army” recently recalled a historical glitch on TradingView displaying XRP trading at $9,864, and in March, witnessed XRP’s price briefly surging to $70 on the Atlantis Exchange platform. Last October, CoinMarketCap also recorded an XRP price anomaly of $34,603. While some anomalies stem from low trading activity, others may be erroneous or fabricated claims.
Disclaimer: This article serves informational purposes only and should not be construed as financial advice. The opinions expressed herein are solely those of the author and do not necessarily reflect The Crypto Basic’s stance. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic assumes no responsibility for financial losses.