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

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Crypto customers are reporting seeing “wonky” costs for Ripple’s XRP (XRP) token on the Gemini crypto alternate, solely hours after it relisted the token on its platform for deposits and buying and selling.

A number of crypto neighborhood members on X (Twitter) have posted screenshots of what many have described as a “worth glitch” that has seen XRP’s displayed worth on the alternate rise above $1 quite a lot of instances and even spiking to $50 on one event.

Nonetheless, the present market worth 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 providers are at the moment unavailable. All prospects property and funds stay safe. We’ll present updates right here as soon as we’ve got 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 Currency Group files motion to dismiss Gemini lawsuit, claiming it’s a PR campaign

Gemini announced it had made XRP available once more for buying and selling on the crypto alternate on Aug. 10.

It comes after United States District Courtroom Decide Analisa Torres dominated within the Ripple’s case in opposition to the Securities Trade Fee that XRP is not a security when sold on exchanges.

Journal: Deposit risk: What do crypto exchanges really do with your money?