The XRP community has witnessed yet another XRP glitch on leading crypto exchange Crypto.com, but this instance features a rendition issue rather than a price error.
This glitch was uncovered amid the ongoing market struggles. The crypto market has been stuck in a bearish consolidation phase, with XRP also caught in the middle of the battle between the bears and the bulls. XRP has since relinquished the psychological $0.50 price territory, breaching below this pivotal support during the latest market downturn.
With XRP now changing hands at the $0.47 price region, it would need a decisive market uptrend to again flip $0.50 into support. During turbulent times like this, some XRP proponents find solace in projections of price breakouts, with a few of these predictions pointing to audacious values such as $27 and $66.
Most of these analyses suggest that XRP is highly undervalued, having suffered from years of price suppression. Citing this theory, some community members point to recurrent XRP price glitches as a testament to the assertion that the current price level is not XRP’s fair value.
XRP Glitch Observed on Crypto.com
However, the latest glitch deviates from the usual pattern. Most recently, Edoardo Farina, prominent XRP community figure and XRP Healthcare’s Head of Social Adoption, called attention to a glitch on the Crypto.com exchange affecting XRP.
Users reported another $XRP glitch on exchange Crypto dot com 🚨 $XRP named as “<|:style1>XRP</|:style1>” 👀 pic.twitter.com/zeZDbR3NSw
— EDO FARINA 🅧 XRP (@edward_farina) June 13, 2024
Nonetheless, this glitch did not affect the asset’s price, as it traded for the normal market value of €0.45 ($0.48) at the time. Instead, the glitch involved an issue with the rendition of XRP’s ticker at the top of Crypto.com’s XRP market page. As a result, users observed “<|:style1>XRP</|:style1>” rather than the usual symbol.
Notably, this issue was likely due to a rendering or encoding problem, possibly caused by an error in the HTML, CSS, or JavaScript that processes and displays the ticker symbol, or a bug in the templating engine or backend system that generates the page content.
However, the issue was a minor coding bug and did not impact any trading activity or market data. Despite how irrelevant the glitch was, the XRP community spotlighted it, as several proponents continue to ponder why these issues mostly impact XRP. At the reporting time, the Crypto.com team has resolved the issue.
Previous XRP Glitches
As earlier stated, the latest glitch deviates from the usual pattern, which typically involves changes in prices.
For instance, XRP spiked to $70 on Atlantis, a lesser-known exchange, in March. In addition, last October, the XRP community discovered price glitches on CoinMarketCap that put XRP at $34,602 at a time when its actual value was $0.56.
In another notable case, XRP witnessed a price surge to $50 on Gemini last August shortly after the U.S.-based trading platform listed it for the first time. This occurrence, which was due to low liquidity and a dried-up order book, saw XRP spike by as much as 7,836% from its price at the time.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
