Ripple price loophole causes it to soar to 62032 on Kraken exchange

A mysterious XRP price glitch has reportedly occurred on the United States-based exchange Kraken, showing a transaction price as high as $62,032.
User Jimmy Crypto first drew attention to the issue in a post on Wednesday. He noted that he witnessed an erroneous XRP price on the Kraken exchange for 10 minutes.
The accompanying screenshots show multiple traders on Kraken claiming to place orders to buy and sell XRP at a price of approximately $62,032. Meanwhile, the current value of the asset on the platform is $0.476.
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This latest development has reignited excitement among optimistic community members, especially those who have long argued that XRP’s repeated price glitches reflect its true value.
These enthusiasts hope that the high prices seen in the breakdown will one day become a reality. Furthermore, they use these events to support their claim that the price of XRP is being artificially suppressed.
"They can't hide it anymore,"
A community member
Comment
.
Reviewing claims
Notably, this mysterious $62,032 price is not reflected in the asset’s 24-hour price movement, despite appearing in at least 12 buy and sell orders, as shown in the screenshot.
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Additionally, Kraken did not report any unusual market volumes for XRP, with trading volumes remaining around $4.8 million. This discrepancy casts doubt on the validity of the reported faults. This may be because no orders are being executed at these prices.
Users who participated in the event: Sabr
suggestion
The issue may have been caused by a glitch in the observer’s browser, distorting the order book data. Sabr also noted that it is possible to reproduce this behavior by quickly switching between currency pairs.
This assessment seems credible considering that Bitcoin was trading around $62,000 on Wednesday when Jimmy reported observing the outage on Kraken. Bitcoin opened at $61,789.68 on June 26, reached a high of $62,434.14 that day, and closed at $60,811.28.
It’s important to note that this recent incident is not an isolated one. The XRP community has reported multiple price anomaly events on various trading platforms in the past.
Other reported XRP price glitches
The XRP Army recently resurfaced a historic price glitch on TradingView, where the platform incorrectly showed XRP trading at $9,864. Likewise, in March, the crypto community witnessed the rise of
XRP price surged to $70.
Additionally, community members reported on CoinMarketCap
$34,603 XRP Price Anomaly
. While some of these anomalies were attributed to low trading activity on certain exchanges, others were claimed to be artificial.
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