Wednesday, June 19, 2024
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XRP Price Abruptly Surged To $247 On CryptoCom Exchange, Sparking Speculation Among Pundits

Recently, the crypto world witnessed an intriguing event when a glitch on the Crypto.com app caused XRP to appear to be trading at an astonishing $247 per coin.

Although this price was an anomaly, it generated substantial excitement and speculation among traders and enthusiasts. JackTheRippler (@RippleXrpie) shared this news with the XRP community on X.

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This incident occurred amid XRP’s recent price surge. The digital asset’s supposed price explosion to a new all-time high of $247 gained traction on X, with users sharing excitement and astonishment. However, it’s essential to clarify that this was just a glitch within the Crypto.com application.

XRP’s Glitched Price

The glitch set XRP’s price at the same level as Binance Coin (BNB), which was trading at around $247 at the time. This glitch, though temporary, illustrated the power of perception in the crypto market and its ability to drive rapid changes in market sentiment.

It’s worth noting that the glitch had no impact on XRP market capitalization, as it stayed around approximately $37.8 billion during and after the unusual incident. This implies that no one could take advantage of the scenario to trade the digital asset at such an exorbitant price.

The XRP glitch demonstrated that even a brief anomaly can create significant ripples in the crypto market and create unfounded excitement. Such a sudden spike can only be a glitch considering the real price of XRP at the time of the incident.

Read Also: XRP Price Prediction As Ripple Seals Partnership With Uphold

Although this was a glitch, it was met with favorable responses from the community, with many expressing the hope that XRP would get there soon. One user stated that he could sell 10% of his XRP at this price and pay off his house and all other debts. Another user stated that the glitch needs to become a reality.

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This error has captured the imagination of the crypto community. Although it does not change anything, it shows how much faith the XRP community has in the cryptocurrency. This incident is reminiscent of another glitch on Binance that happened recently, which sent the price of XRP to $5,791.


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Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
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