**XRP Price Glitch on Kraken Exchange Baffles Crypto Community**
In a curious turn of events, the cryptocurrency XRP experienced a baffling price glitch on the popular exchange Kraken. The glitch, first spotted by user Jimmy Crypto, showed XRP trading at a staggering $62,032 for a fleeting 10-minute period.
**The Mysterious Surge**
The price glitch occurred on Wednesday, sending shockwaves through the XRP community. A screenshot shared by Jimmy Crypto revealed multiple buy and sell orders purportedly placed at the astonishing price of $62,032, far above the actual market price at the time of $0.476.
**Community Excitement and Speculation**
The incident has rekindled excitement among XRP enthusiasts, who have long maintained that the asset’s true value is being suppressed. Some have interpreted the glitch as a sign that the market is finally recognizing XRP’s potential.
“They can’t hide it anymore,” exclaimed one community member.
**Discrepancies and Doubts**
However, the validity of the price glitch has been called into question. Despite being visible on multiple buy and sell orders, the $62,032 price did not reflect in the asset’s 24-hour price change. Additionally, Kraken did not report any unusually high trading volume for XRP.
**Possible Explanations**
User Sabr suggested that the glitch may have been caused by a malfunctioning browser distorting order book data. This theory aligns with the fact that Bitcoin, which was trading around $62,000 at the time, could have influenced the glitch.
**Historical Price Anomalies**
The XRP community has a history of reporting price anomalies on various trading platforms. In the past, glitches have shown XRP trading at prices as high as $9,864 on TradingView and $70 on Atlantis Exchange.
**Market Manipulation Concerns**
While some price glitches can be attributed to low trading activity or technical issues, others have raised concerns about potential market manipulation. The XRP community has voiced suspicions that entities with vested interests may be suppressing the asset’s price.
**Caution Advised**
Investors are advised to approach such price anomalies with caution. It is essential to verify the accuracy of information before making any investment decisions. The Crypto Basic does not provide financial advice, and readers should conduct their own research before investing.
Mehek