The price of the native token of the XRP Ledger, XRP, has seen an exponential surge to trade at a stunning $74 on the Atlantis Exchange for a brief period, far exceeding the cryptocurrency’s current market value of just $0.60.
However, excitement quickly turned to disappointment as the price increase was confirmed to be a technical glitch derived from a malfunction that came just days after Atlantis Exchange launched XRP trading on its platform, touting the token’s potential.
Notably, the cryptocurrency’s price wasn’t affected on other cryptocurrency trading platforms and is still trading normally everywhere else, given the technical glitch didn’t have a wider market impact.
This isn’t the first time an erroneous price display has caused a stir in the XRP community. Last year, a similar glitch on Crypto.com’s trading platform briefly indicated a price surge to nearly $250, while the token’s actual all-time high was of just over $3 seen back in 2018.
As CryptoGlobe reported, a popular pseudonymous cryptocurrency analyst Leb Crypto has recently told their followers they expected XRP to make a new all-time high “very soon,” meaning either before or right after Bitcoin’s halving event.
The Bitcoin halving is an event that occurs every 210,000 blocks – or roughly every four years – that’s programmed into Bitcoin’s code to cut in half the coinbase reward BTC miners receive per block found, as a way to cut the supply of newly produced Bitcoin entering the market.
This scarcity event has historically triggered price increases for Bitcoin, and some analysts believe it could have a ripple effect across the broader cryptocurrency market, including XRP. The analyst’s prediction hinges on Bitcoin “printing euphoric price action above $100k going into the halving.”
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