XRP briefly hits $50 on Gemini as users suspect relisting ‘price glitch’

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Crypto customers have reported seeing “wonky” costs for Ripple’s XRP (XRP) token on the Gemini crypto trade hours after it relisted the token on its platform for deposits and buying and selling.

A number of crypto group members on X (Twitter) on Aug. 11 posted screenshots of what many have described as a “value glitch” that has seen XRP’s displayed value on the trade rise above $1 a variety of occasions and even spiking to $50 on one event.

Nevertheless, the present market value for XRP is $0.63, according to the crypto monitoring web site CoinGecko.

In the meantime, as of Aug. 11, 1:25 am UTC, Gemini introduced it has put its platform into full website upkeep.

“We’re at the moment performing upkeep on the Gemini platform and so all companies are at the moment unavailable. All clients property and funds stay safe. We are going to present updates right here as soon as we have now extra info to share.”

It additionally reported some customers had been seeing timeout points on spot markets.

Gemini additionally famous it had disabled cryptocurrency deposits and withdrawals on Aug. 10, 10:45 am UTC. Supply: Gemini

Associated: Digital Forex Group recordsdata movement to dismiss Gemini lawsuit, claiming it’s a PR marketing campaign

Gemini introduced it had made XRP obtainable once more for buying and selling on the crypto trade on Aug. 10.

It comes after United States District Court docket Choose Analisa Torres dominated within the Ripple’s case towards the Securities Change Fee that XRP just isn’t a safety when bought on exchanges.

Journal: Deposit danger: What do crypto exchanges actually do along with your cash?