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Ripple “to the moon”: XRP price explodes to $161 million on technical glitch

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For a moment, retail investors were able to smell the Lambo and Paradise Islands that they hadn’t bought.

A technical glitch sent cryptocurrency prices to the moon for a short period of time, including XRP, also known as Ripple.

Several digital asset investors have captured screenshots of the moment when everyone in the space felt like a trillionaire for a few minutes.

This one, taken from BenScrivener, captures the top 9 cryptocurrencies by market cap listed on coinmarketcap.com.

at that moment, Bitcoin (BTC) is worth $869 billion, while Ethereum (ETH) jumped to $53 billion, followed by Binance Coin (BNB) at nearly $11 billion and Tether (USDT) at over $17 million.

This screenshot shows the price of XRP at over $22 million, but other screenshots shared on social media show that the price of XRP is over $22 million. XRP reached a high of $161 million.

As can be seen from the image, the extraordinary and intraday gains have been generalized to the entire cryptocurrency market.

The price imbalance upset many retail investors who thought they would be able to sell their property and buy one or two islands the next day.

Incorrect pricing data displayed by both Queen Piece And Queen Market Cap It has already been corrected and explained by the companies.

“We are aware that some clients are seeing inflated values ​​of non-tradable crypto assets on Coinbase.com and Coinbase Wallet. This is a display issue only and does not affect trading, Coinbase Support said on Twitter.

“Display issue resolved. Non-tradable assets on Coinbase.com They no longer appear bloated, and the assets on Coinbase Wallet should reflect the correct market capitalization. Again, this did not affect trading […] Trades are processed normally, and we thank you for your patience.”

“Following the irregularities we noted on our platform this afternoon, although the issue has been fixed, we will be restarting our servers as a last step in accordance with our internal repair plan. We apologize for the inconvenience,” CoinMarketCap said on Twitter.

The crypto space has faced other vulnerabilities in the past, which is Coinbase, which reportedly shut down some clients from their accounts in mid-November.

This particularly serious flaw has prevented some users from trading for weeks. They recently launched a campaign asking Coinbase to issue refunds for this flaw in the system.

Binance is dealing with arbitration proceedings from hundreds of users who were prevented from transacting in May due to a technical glitch that led to the closure of their accounts. Last month, the cryptocurrency exchange encountered a “problem with the latest Doge wallet,” which prevented users from withdrawing DOGE.

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