XRP Price Faces Another Glitch? Clip Showcases an XRP Price of $34,603 on CoinMarketCap

XRP might have witnessed another price glitch, as videos making the round showcase a shocking price of $34,603 for the asset on CoinMarketCap, but some community members remain skeptical.

A Dubai-based XRP community influencer, Amelie, called attention to the clip in a recent post on X. She mentioned that the glitch occurred on Binance. Still, the video suggests that the chart came from the leading price-tracking tool, CoinMarketCap.

New glitch of the #XRP chart on Binance! 📈

Why is this always only happening to XRP? 🧐

I feel more and more that it could happen because they are hiding its true value… pic.twitter.com/dIfhQWVv3B

— 𝓐𝓶𝓮𝓵𝓲𝓮 🍭 (@_Crypto_Barbie) October 26, 2023

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XRP at $34,603?

The influencer questioned why these glitches have persisted on XRP charts – a pattern that has been more prevalent with the asset. Amid this trend, Amelie believes the recurrent occurrence could suggest that XRP’s true value is suppressed.

Notably, the video presents a 1-hour XRP chart on CMC, with its obtainable price at $0.5655. However, a further stretch of the chart allegedly shows a massive god candle, which briefly skyrocketed the asset’s price to $34,603. 

However, following the momentary price spike, XRP could drop back in a massive crash to its normal range. The video has garnered significant attention from the XRP community. For context, an XRP price of $34,603 would represent a 6,291,354% from its current price territory of $0.55.

Evaluating the Clip

While most of the XRP community has received the clip favorably, seeing as it aligns with the idea that the price of XRP is suppressed, there is no data on CoinMarketCap or any other authority source that actually confirms that the glitch occurred.

A possible explanation could be a case of graphical manipulation with the help of video editing tools, as the clip itself shows an unusual behavior. 

In addition, the red candle displaying the crash from $34,603 seems to extend to the portion of the window dedicated to timeframes – a strange sight. The $34,603 price also appears to have been Bitcoin’s price at the time.

An investigation carried out by The Crypto Basic confirms that the actual XRP chart on CoinMarketCap shows no unusual activity across all timeframes. However, these findings are not conclusive, as rectification of such a glitch could revert all charts to their normal states.

It bears mentioning that this is not the first instance of an XRP glitch on a price-tracking resource or a trading platform. Recall that XRP spiked at an unprecedented rate to $50 on Gemini shortly after the U.S.-based trading platform listed the asset. This glitch was the result of a low market depth.

Since the Gemini incident occurred, the XRP community has witnessed several alleged cases of similar glitches. However, most of these cases have not actually been genuine, with the majority of them featuring manipulated images and video clips.