The 3rd highest ranked crypto asset based on market capitalization, Ripple’s XRP, drastically went up on the crypto exchange platform, Coinbase. This happened on January 4, 2019, when the price of XRP, which is currently at 0.198 USD, surged over 7,000 USD on Coinbase. The actual price of this crypto coin has only increased to 3.84 USD. This period was successful for those XRP traders that managed to benefit from this price jump.
According to a Tweeter user, Ripple’s crypto asset experienced an unimaginable price increase for an extremely short period of time. For only one minute, based on this Tweeter user, XRP hit the 7,308 USD mark on January 4. At the same time, the biggest crypto coin, Bitcoin, was also going up in price and reached 7,400 USD. Because of the Glitch, XRP and Bitcoin leveled on the Coinbase platform chart.
Despite the price rise, it is most likely that the XRP price shift was based upon an issue in the system and the information provided by the platform also confirms this theory. In reality, at the same time, the value of the crypto asset was right below 0.2 USD while on Coinbase it was 7,308 USD. On the other hand, at that time, according to the 24-hour chart, the XRP price has gone down by more than 0.4 percent.
At the same time, a different Twitter user also stated that in October 2019, a similar issue occurred on the platform when Bitcoin and XRP leveled for a very short period of time. At that time, the Bitcoin price was around 8,300 USD and XRP was above 7,300 USD. Users of Coinbase agreed that the company has been doing a poor job of regulating the platform and avoiding such Glitches.