XRP momentarily hits $50 following relisting on Gemini

The price of Ripple surged to $50 shortly after crypto exchange Gemini relisted the altcoin on its platform.
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August 11, 2023
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

TABLE OF CONTENTS
Photo Source: Brad Garlinghouse/Ripple (Twitter)

The price of Ripple (XRP) surged to $50 shortly after crypto exchange Gemini relisted the altcoin on its platform.

A few weeks ago, Ripple secured a partial victory against the SEC in a three-year-long lawsuit. This prompted many exchanges, including Gemini, to relist the token.

Shortly after the relisting, users reported that the token’s price had skyrocketed to $50, momentarily boosting XRP’s market cap to over $1.65T. The crypto community speculated a price glitch in Gemini's platform was the reason behind the abnormal XRP rates. 

However, X (formerly called Twitter) user John S reasoned that a trader must have placed a spoof order that someone accidentally purchased for $50, causing the token to temporarily trade at a much higher price.



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Ripple has since returned to its normal pricing. As of writing, the token costs $0.63 and is the fifth largest cryptocurrency with a market capitalization of $33B.

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Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn

XRP momentarily hits $50 following relisting on Gemini

HomeAltcoins
Contents
Photo Source: Brad Garlinghouse/Ripple (Twitter)

The price of Ripple (XRP) surged to $50 shortly after crypto exchange Gemini relisted the altcoin on its platform.

A few weeks ago, Ripple secured a partial victory against the SEC in a three-year-long lawsuit. This prompted many exchanges, including Gemini, to relist the token.

Shortly after the relisting, users reported that the token’s price had skyrocketed to $50, momentarily boosting XRP’s market cap to over $1.65T. The crypto community speculated a price glitch in Gemini's platform was the reason behind the abnormal XRP rates. 

However, X (formerly called Twitter) user John S reasoned that a trader must have placed a spoof order that someone accidentally purchased for $50, causing the token to temporarily trade at a much higher price.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Ripple has since returned to its normal pricing. As of writing, the token costs $0.63 and is the fifth largest cryptocurrency with a market capitalization of $33B.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

The price of Ripple (XRP) surged to $50 shortly after crypto exchange Gemini relisted the altcoin on its platform.

A few weeks ago, Ripple secured a partial victory against the SEC in a three-year-long lawsuit. This prompted many exchanges, including Gemini, to relist the token.

Shortly after the relisting, users reported that the token’s price had skyrocketed to $50, momentarily boosting XRP’s market cap to over $1.65T. The crypto community speculated a price glitch in Gemini's platform was the reason behind the abnormal XRP rates. 

However, X (formerly called Twitter) user John S reasoned that a trader must have placed a spoof order that someone accidentally purchased for $50, causing the token to temporarily trade at a much higher price.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Ripple has since returned to its normal pricing. As of writing, the token costs $0.63 and is the fifth largest cryptocurrency with a market capitalization of $33B.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande