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This report highlights several notable XRP price glitches, some of which took it to a low of $0.0001 as well as a high of $34,603.
XRP has been at the center of multiple discussions around crypto price glitches due to its susceptibility to the rare occurrence. These glitches have occurred across several platforms, including crypto exchanges and price-tracking resources, often leading to wild speculations from crypto proponents.
Amid the proliferation of these price anomalies, The Crypto Basic has compiled the most notable glitches recorded in recent times, with some of them resulting in a price collapse to as low as $0.0001, while others have led to unimaginable surges to prices as high as $34,603.
XRP Spikes to $74 and $0.90
The crypto community discovered one of the most recent XRP price anomalies on March 20, when the value of XRP pushed above the $70 price territory. Notably, a look at Atlantis Exchange, a crypto trading platform, showed that XRP was trading at $74. Other cases on Atlantis saw XRP changing hands at $80 and $113.
A closer look at these prices revealed that Atlantis Exchange, which claimed to be fully compliant with the U.S. government, was not a fully liquid trading platform. Some users complained about not being able to swap or withdraw tokens. In addition, these price anomalies also affected other assets besides XRP.
Last December, XRP witnessed a massive price surge to $0.90 on Bittrex. While this value was not particularly out of reach for XRP, the surprising part of this occurrence was that XRP changed hands below $0.65 at the time. Notably, XRP was trading for $0.6289 then following a 5.7% drop over a 24-hour period.
While XRP changed hands at $0.62 on every other exchange, its value was $0.90 on Bittrex. However, market participants could not leverage this as an arbitrage opportunity because the issue was due to a data presentation error and not market dynamics.
A Contested Surge to $34,603
In October 2023, the XRP community saw multiple screen recordings showing that XRP briefly traded at a massive 6,118,909% premium to its current price on CoinMarketCap (CMC). Notably, these clips showcased an XRP price of $34,603 on CMC when XRP’s actual market value stood at $0.5655.
However, a close examination showed that the $34,603 price was actually Bitcoin’s value at the time. Despite some community figures claiming that they observed the price anomaly on Binance, these claims could not be verified.
In a more verifiable situation, the price of XRP skyrocketed to $50 on leading crypto exchange platform Gemini in August 2023. This development, which occurred shortly after Gemini listed XRP on the back of the ruling in the Ripple vs. SEC case, saw XRP rise by 7,836% on the trading platform.
XRP Drops to $0.45 and $0.0001
Bitstamp users on Oct. 9, 2023, took to X to lament an issue with XRP’s price. Notably, XRP collapsed to a low of $0.4587 on the exchange amid a market downturn. While other exchanges recorded similar price drops, XRP held above $0.48 on other platforms besides Bitstamp.
Shortly after the complaints from its users, Bitstamp acknowledged the issue and sprang into action to address it. A few hours later, the team responsible confirmed that they had resolved the issue and XRP trading on the platform had resumed.
The market recorded another case of a negative price glitch last April. This glitch, which occurred on crypto exchange Bitrue, was more substantial, and impacted multiple customers. XRP’s price surprisingly crashed to $0.0001 before rising back up, leading to liquidations of long positions.