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XRP Just Rose to $90 On This Major Exchange. What’s Happening?
Ripple’s XRP has sent shockwaves throughout the crypto space after a sudden and unexpected surge took it to $90 on Kraken, a major cryptocurrency exchange. This move is a mystery that has left many traders scratching their heads.
According to reports from CryptoBull (@CryptoBull2020), this massive spike occurred at 05:15 UTC+1. The data provided by Kraken shows a sharp vertical movement with no prior buildup or signs of an impending surge. Traders who witnessed the event are still trying to wrap their heads around the unusual activity.
The chart, which displayed normal activity before the sudden jump, has raised more questions than answers. This unexpected move has left many in the crypto community searching for explanations.
In a surprising turn of events, XRP opened the trading session near $2.18 and then recorded an astonishing high of $91.6299 before quickly falling back to its original range. The spike that occurred sits alone on the chart feed with no support from surrounding candles, leading experts to speculate about a possible glitch.
It is essential to note that XRP has been quiet over the past few days despite significant spot ETF launches. There was no indication of an impending surge, making this move all the more perplexing.
If XRP had maintained its position above $90 for any extended period, it would have had far-reaching implications. It could have pushed XRP into a new valuation tier, potentially making it the largest asset in the crypto space. The ripple effect of such a drastic shift would have also drawn significant interest from major holders and influenced sentiment across multiple assets tied to its price movement.
While there is no concrete explanation for this sudden surge, experts point out that glitches are not unheard of on cryptocurrency exchanges. In fact, XRP has experienced numerous glitches in the past where exchanges displayed much higher prices. The quiet period preceding the spike does not align with the behavior expected from a genuine breakout.
Source: timestabloid.com
