The price of Ripple at over $8000 on Coinbase - The Cryptonomist

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2 months ago

It sounds incredible but this is exactly what happened on the Coinbase platform: for a few moments, the price of XRP went above the price of bitcoin, reaching the value of $8000.

This is the chart posted on Twitter which shows what happened:

Welson @CryptoWelson

Breaking: #XRP - USD just hit $8,341 on @coinbase Exchange in 1 minute candlestick.

A remarkable day of the future

XRP price went higher than #Bitcoin for few seconds #XRPCommunity #XRParmy Retweet


8:12 AM - Jan 7, 2020

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The price then returned to normal. It is difficult to understand whether it was a problem with the platform not interpreting the input data correctly, or whether some trader misplaced the order since he might have entered the purchase value for bitcoin, causing the anomaly to momentarily be created on the XRP page.

A frightening difference in price, considering that this event has marked a price for Ripple of $8341, while in recent times the average value of XRP has been around $0.21, so it is an increase of nearly 4 million times.

It is interesting to note that a high price for XRP would also imply a considerable wealth for its holders, also because the supply of XRP has several billion in circulation and so even the total capitalisation would result in a staggering amount, given that the value of $8341 would have to be multiplied by that of the current supply which is currently 43.3 billion XRP.

But unfortunately, this is not realistic and the anomaly has lasted the blink of an eye. Recently the asset has been delisted from the Bitbox exchange because it is not in line with their standards.

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