What happened to XRP’s unusual price drop on Uphold exchange?

XRP community members claim that they have observed an unusual drop in XRP prices on the U.S. exchange Uphold, but this phenomenon has not been reflected in the overall cryptocurrency market.

Micah, an American XRP supporter, came to public attention in a post on the X community, complaining that XRP's drop on the Uphold platform was greater than what was randomly shown on other trading platforms. The chart attached to the post shows that XRP fell 2.64% on the hourly timeframe, from $0.47558 to $0.46227.

Micah tweeted this concern at 8:43 p.m. Sunday night US time. However, data from CoinMarketCap shows that during Micah’s observation period, the price of XRP remained around $0.4762, without any significant decline.

Interestingly, CoinMarketCap shows that the lowest price XRP has sold for in the past 24 hours is $0.4716. As of now, XRP is trading above $0.48, up 2% on the day.

Basically, the XRP price decline that Micah observed at Uphold does not reflect the reality of the overall market. The report attracted widespread attention from community members, and Uphold’s positive history with XRP only added to its significance.

Has something like this happened before?
User X “Sage Bolts” claims to have witnessed similar situations on Uphold multiple times with other assets.
"Looks a little fishy; I have no idea why this is happening," the commenter said. Some comments suggested that users may not be able to buy XRP at the dropped price, suggesting that this may be a glitch.

Meanwhile, X user Marsha claimed the opposite, saying he received notifications on Uphold about a drop in XRP’s price and bought some tokens after observing an increase in the asset’s price on CoinMarketCap. However, he provided no evidence to support his claim.

Another commenter attributed the situation to a lack of liquidity, noting that one major sell order on the exchange could temporarily trigger a sharp price drop. A similar situation occurred last August, when XRP briefly traded as low as $50 on Gemini as order books dried up following its initial listing.

However, Uphold is a strong force in XRP, holding more XRP in reserve than Bitcoin. Specifically, Uphold holds more than 2 billion XRP, worth about $1.08 billion, far more than its users’ Bitcoin deposits of just $315 million.

While the XRP community has been seeking a response from Uphold regarding this isolated price drop, the exchange has yet to respond as of press time.

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