Home Crypto Exchanges Cryptocurrency Rollercoaster: XRP Encounters Price Mysteries and Glitches Throughout the Year

Cryptocurrency Rollercoaster: XRP Encounters Price Mysteries and Glitches Throughout the Year

XRP glitches

In the ever-volatile realm of cryptocurrencies, XRP has been at the center of numerous reported glitches and anomalies, leaving enthusiasts and skeptics alike puzzled. Recently, a self-proclaimed XRP enthusiast, known as “JackTheRippler,” sparked a heated debate by claiming a new glitch that saw XRP allegedly reach a staggering $1,919 on the popular market tracker, CoinMarketCap. However, the XRP Army, a dedicated community of enthusiasts, has largely disputed this assertion, with little evidence supporting the isolated claim.

The controversy surrounding XRP glitches isn’t new. Throughout the year, instances of unusual price movements have been reported, leading to a wave of speculation and debate within the cryptocurrency community. One notable incident occurred on October 30 when Edward Farina, heading social adoption at XRPHealthcare, shared a video showcasing Binance’s official website where XRP briefly skyrocketed to an astounding $5,791. The price fluctuated, dipping to $579 before returning to the jaw-dropping figure. Despite Farina’s video and the confirmation by numerous XRP enthusiasts, skepticism remains.

In August, XRP experienced a momentary surge on the Gemini crypto exchange, reaching $50. This surge coincided with Gemini’s decision to add XRP to its platform, marking the first listing following the July 13 XRP ruling. The anomaly on Gemini was attributed to limited market depth, according to reports.

One enthusiast, who goes by the name “JackTheRippler,” made waves by claiming a new glitch in XRP’s price via ConMarketCap. According to JackTheRippler, XRP supposedly reached an astronomical $1,919, but the broader XRP community remains skeptical. Most members failed to spot the claimed glitch on November 12, and a snapshot of the XRP market chart on ConMarketCap showed no evidence of such a surge.

July brought its own set of surprises when XRP’s price momentarily crashed to zero on the Poloniex crypto exchange. The circumstances leading to this odd occurrence were unclear, but the value swiftly recovered. In April, the Bitrue crypto exchange’s derivative market witnessed an astonishing plunge in XRP’s price to $0.0001. While a rapid recovery followed, many XRP long positions on Bitrue suffered liquidation.

However, not all reported cases of XRP glitches hold water. Four days before the October Binance incident, XRP influencer Amelie highlighted a video claiming that XRP had hit an astronomical $34,603 on CoinMarketCap. Amelie raised questions about the frequency of these glitches, suggesting a deliberate suppression of XRP’s value. Yet, an investigation by The Crypto Basic hinted at potential graphical manipulation, as the shared clip displayed unconventional behavior.

Similarly, enthusiast Will Fix mentioned purported glitches with crypto exchanges Bitstamp, Uphold, Kraken, and Coinbase. However, a significant number of these cases have been debunked, with manipulated images and video clips contributing to the misinformation.

The crypto community remains divided on whether these glitches are genuine technical anomalies or deliberate attempts to manipulate XRP’s value. Some argue that these incidents are part of the inherent volatility of the crypto market, while others suspect foul play.

Despite the controversy, it’s crucial to approach such claims with a healthy dose of skepticism. The cryptocurrency space is notorious for its susceptibility to misinformation and market speculation. As the saying goes, “trust, but verify.”

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Pankaj K

Pankaj is a skilled engineer with a passion for cryptocurrencies and blockchain technology. With over five years of experience in digital marketing, Pankaj is also an avid investor and trader in the crypto sphere. As a devoted fan of the Klever ecosystem, he strongly advocates for its innovative solutions and user-friendly wallet, while continuing to appreciate the Cardano project. Like my work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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