Ripple’s XRP price has been plagued by numerous glitches across various exchanges since 2019, sparking debate about the stability of cryptocurrency markets. From dramatic jumps to plummeting values, these anomalies have highlighted the technological vulnerabilities present in current blockchain infrastructure. This article examines a selection of notable incidents, exploring their causes and potential impact on crypto investors.
One of the earliest documented XRP price glitches occurred in January 2019 when Coinbase’s 1-minute chart mistakenly displayed XRP at an astonishing $7,308. The probable cause was a data feed crossover with Bitcoin, which traded similarly around that period. Later that year, TradingView showcased another notable anomaly – its charts showed XRP trading at $9,864 despite the market price ranging between $0.20 and $0.22. This isolated incident did not affect actual trading.
Perhaps the most notorious example was in December 2021 when both CoinMarketCap and Coinbase displayed XRP at an inflated $161 million, a result of a widespread system-wide data feed malfunction. Though initially impacting many cryptocurrencies before being corrected, this incident highlighted a critical vulnerability.
More recent incidents include a 228% price spike on MEXC in July 2024, which momentarily saw XRP hit $2 while the broader market priced it around $0.60. A Coinbase glitch in August 2024 showed XRP at $22.50 despite stable market prices. The most recent anomaly was last month when American TV news channel Real America’s Voice displayed XRP at a staggering $21,000.
These recurring glitches demonstrate ongoing technical challenges in cryptocurrency price reporting. These incidents expose the need for improved data feed accuracy and greater attention to liquidity issues, which can lead to dramatic distortions in displayed values.