If you’ve recently joined Ripple’s cryptocurrency exchange, you’ve likely noticed that its XRP price has been fluctuating wildly lately. The most recent occurrence occurred when the XRP price reached a high of 7,308 USD in one minute. It has since leveled off on the Coinbase platform chart, but that’s still a significant increase! There’s no reason to panic, however, as the glitch is temporary.
The ripple price glitch occurred overnight, and was caused by either a platform bug or a market buy order. The glitch caused massive candle price surges on the 1-minute chart in Coinbase Pro. While the XRP price was over $22,000, other photographs showed it valued at over $161 million. This glitch affected the entire crypto market and bothered many retail buyers. The problem was solved when Coinbase and Coinmarketcap corrected inaccurate information and XRP was once again listed at $0.8.
Luckily, this price glitch was not the first one. In fact, Ripple is seeing three “glitches” in its volume this week! While one glitch might be a “one-off” occurrence, three in a week is not so “one-off.” During the last Coinbase glitch, the XRP price jumped nearly 4 million percent, to a high of $161 million.
Coinbase has since clarified that the glitch only affected non-tradable crypto assets, and that it only affected the site’s display. Coinbase executives acknowledged the glitch in a Bloomberg Technology interview, saying the company had taken measures to regain customer confidence. It is also worth noting that the NBA star Kevin Durant recently signed a multi-year deal with Coinbase. These are just a few of the reasons why Coinbase is a great platform to trade crypto.
In addition to Coinmarketcap’s XRP price glitch, Ripple is currently the subject of arbitration proceedings. Hundreds of users have filed a claim against the exchange for damages caused by the May glitch, which locked users out of their accounts and prevented them from making any trades. The XRP price has now recovered to its previous levels. The glitch has only affected the most popular cryptocurrency exchange in the U.S., Coinbase.
The CoinMarketCap status site has claimed that the erroneous prices were displayed for an hour. The service was experiencing issues with payments through its API. Coinbase users also tweeted screenshots of their website showing Bitcoin prices at an extraordinary high. Coinbase has since said it was investigating the glitch and is currently working to resolve the issues. The CoinMarketCap website was restored by 8:20 am UTC. The company has also reset its servers to ensure that they remain reliable.
Coinbase users were unable to sell or buy on the exchange for weeks following the glitch. As a result, they launched a campaign to get refunds from Coinbase. Similarly, Binance is currently dealing with arbitration proceedings filed by customers after it was locked out of their accounts last month. Furthermore, the cryptocurrency exchange has also been plagued by problems in recent months, including the latest doge pocket. Regardless of the reasons, these glitches have caused a massive amount of confusion and resentment.
XRP Price Glitch
A XRP price glitch occurred in Coinbase this morning. The crypto asset surged over seven dollars, reaching the $7308 mark for a minute. Later, the cryptocurrency leveled off on the platform’s chart. This glitch has caused concern among cryptocurrency enthusiasts and retail buyers alike. What is the cause of the XRP price glitch? The cause may be a platform bug or an individual placing a market buy order.
The glitch impacted some cryptocurrency exchanges and inflated the value of the non-tradable crypto assets. However, it did not affect real trading. Coinbase executives acknowledged the glitch in an interview with Bloomberg Tech. In the meantime, they have taken steps to restore confidence in their service. One notable example is the signing of NBA star Kevin Durant on a multi-year deal with Coinbase. Despite the glitch, Durant has been supportive of XRP as a safe, secure and reliable currency.
While the XRP price is currently at its lowest point ever, this glitch isn’t a permanent solution. Despite this glitch, the currency has recovered since May, and it’s now back to its previous high. Users of the exchange are also seeking damages for the incident. The price of BTC dropped to $46,600 yesterday before shooting up to $48700. It has since rebounded to $48,700 again today.
Another recent issue with Coinbase’s exchange involved a glitch, which prevented customers from buying or selling. Coinbase users launched a marketing campaign demanding refunds. The same happened with Binance when it introduced its newest doge pockets. Users are demanding refunds for their losses. In the meantime, Binance is also dealing with arbitration proceedings from customers who were locked out of their accounts. This issue could be the biggest reason for Binance’s recent problems.
XRP Price Glitch
On Monday, the XRP price glitch occurred, sending ripples more than four million percent higher in under 45 minutes. It would have put the coin’s market cap at $361 trillion, which is more than the combined market cap of the top 100 companies. While the glitch may have been caused by a platform bug, it was also accidental. Read on to learn more about this crypto market glitch. If you are considering trading ripples, now is the time to do so.
XRP is a cryptocurrency that was introduced by the company Ripple in 2015. Its value fluctuated wildly over the course of the day. Its price was influenced by a glitch in the CoinMarketCap price data. The company is currently investigating the issue and has promised a complete and transparent resolution. A fix should be available soon. Meanwhile, the ripple price remains flat today, suggesting that the glitch is now a one-time occurrence.
Coinbase has since confirmed that the glitch affected only non-tradable crypto assets and not the price of real-time transactions. The glitch did not affect real trading, but it affected account balances. Despite the temporary fix, Coinbase is still looking for ways to restore customers’ confidence. In addition to signing a multi-year deal with NBA star Kevin Durant, the company has also taken steps to ensure that the glitch doesn’t occur again.
Ripple has recently been gaining momentum with an unprecedented rise in price. It is now the 3rd highest crypto asset on Coinbase. Coinbase users also complained of glitches affecting the price of XRP. In fact, Ripple’s XRP reached a high of seven hundred dollars for a minute before leveling off in the coinbase platform chart. This glitch has left some users questioning whether the cryptocurrency is still worth trading, and they are now looking for answers to this mystery.
XRP was up 4,000,000 percent in one week, and the momentary gains were only temporary. However, the price glitch was enough to make retail investors worry, and Coinbase and Coinmarketcap have since corrected the data. In the meantime, investors are urged to consider XRP as a safe investment and hold it for the long-term. And, of course, it’s worth noting that a glitch on one exchange does not mean that XRP will never happen again, unless it is caused by a system error or a software glitch.
This problem has been plaguing the cryptocurrency world for months, and some users have taken to the streets to demand refunds. The glitch affected Coinbase customers in mid-November, and they were unable to buy or sell on the site for weeks. Other exchanges such as Binance have also encountered glitches and are currently dealing with arbitration proceedings from angry customers. Meanwhile, the new doge pockets have also encountered problems. A user can now no longer withdraw dogecoin from their Binance account.