A glitch on Crypto.com caused XRP to briefly appear to be trading at $247 per coin, generating excitement and speculation among traders and enthusiasts.
Key Takeaways
- A Crypto.com app glitch displayed XRP at an astonishing $247 per coin, causing a stir in the crypto community.
- The incident sparked excitement and discussions among traders and XRP enthusiasts, but it was indeed a temporary glitch.
- The glitch coincided with XRP’s recent price surge but had no impact on its market capitalization.
- Despite being an anomaly, the event highlighted the influence of perception on crypto market sentiment.
Crypto World Witnessed an Unusual Event
In a surprising turn of events, the cryptocurrency community was abuzz as a glitch on the Crypto.com app momentarily showed XRP trading at an astounding $247 per coin. This anomaly sent shockwaves through the industry and fueled speculation among traders and enthusiasts alike. The news was initially shared by JackTheRippler (@RippleXrpie) with the XRP community on social media.
This incident unfolded against the backdrop of XRP’s recent price surge, with the digital asset supposedly reaching an all-time high of $247. The excitement and astonishment that followed this revelation were palpable. However, it’s crucial to emphasize that this was nothing more than a technical glitch within the Crypto.com application.
Glitch With Resonance
The glitch briefly elevated XRP’s price to match that of Binance Coin (BNB), which was trading around $247 at the time. Although fleeting, this glitch served as a powerful reminder of the crypto market’s susceptibility to rapid shifts in sentiment driven by perception.
Despite the temporary price surge, XRP’s market capitalization remained steady at approximately $37.8 billion, indicating that no one could capitalize on this anomaly to trade the digital asset at such an exorbitant price.
The XRP glitch underscored the significance of even a momentary anomaly in the crypto market, capable of generating unwarranted excitement. Such sudden spikes are, in reality, technical glitches and should not be taken as indicative of the actual price of XRP at the time.
XRP Price Abruptly Surged To $247 On CryptoCom Exchange, Sparking Speculation Among Pundits – Times Tabloid https://t.co/lhrwRT44el
— protea008.crypto (@protea008) November 7, 2023
To Conclude
Some expressed hope that XRP would eventually reach such heights, with one user even contemplating selling a portion of their XRP holdings to pay off debts. While this incident was a mere aberration, it showcased the unwavering faith of the XRP community in cryptocurrency.
The event draws parallels with a recent glitch on the Binance exchange, where XRP’s price momentarily skyrocketed to an astronomical $5,791. These episodes serve as reminders of the unpredictability of the crypto world and the fervent optimism that drives it forward.
