A wild XRP price glitch occurred on the prominent cryptocurrency exchange Kraken, sending the coin to an unprecedented high of $91.6 per coin.
XRP trades at $2.16 at the time of writing, down over 2.2% since the start of today. Yet for a moment, the coin rallied to $91.6, leaving enthusiasts drooling over the potential impact of this price shift on their portfolios.
XRP Briefly Pumps to $91.6 on Kraken
Crypto millionaire Kevin Cage highlighted this glitch on the XRP/USD chart on Kraken early Wednesday. He shared that this “super weird flashwick” came to his knowledge as the spike triggered his price alert.
Meanwhile, data from TradingView confirms this glitch. On the 5-minute timeframe, XRP crashed to a low of $0.00272 at 04:05 (UTC) on November 19 but recovered to close at $2.18.
About 10 minutes later, XRP spiked to $91.62 but quickly retreated, closing at $2.18. Notably, research shows that this anomaly was peculiar to the Kraken exchange, as the price of XRP across other exchanges stood at around $2.18 at the time.
Interestingly, this glitch marked a staggering 4,102% surge from the market price at the time. This would have represented a remarkable portfolio growth for holders if it were a reality.
XRP Enthusiasts Dreamed, but for a Moment
Meanwhile, reactions expressed optimism about this price action, with some suggesting it was a sign of things to come. A user explained that the flicker on Kraken is beyond a random noise but a real signal of where the “vacuum pockets are.” He added that the vacuum on Kraken is higher, not lower, suggesting that XRP is programmed for a substantial rally.
Other reactions also confirmed being notified of this spike. However, there has been no report of filled orders at the time of writing, indicating there may have been no impact on the platform’s order book.
Notably, such a spike occurs on exchanges when there is a thin order book. A large order during this time of low liquidity tends to move prices to match it with the best available counterorder in the record book.
One of Many Price Glitches
Meanwhile, this is not the first time an XRP price glitch has happened. One recent example of this is a flashwick to $5.59 on the crypto exchange GateHub in July.
Another event of this spike occurred on Gemini in August 2023. Following XRP’s listing on Gemini after Ripple’s notable victory in its now-concluded legal battle against the US SEC, the token spiked to $50 per coin.
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