The XRP price on Bittrex has skyrocketed to a high of $0.90 amid a price glitch on the crypto exchange triggered by its decision to shut down all trading activities.
XRP has declined 5.7% over the past 24 hours to a current price of $0.6289. While the digital asset has failed to reclaim the $0.90 price territory since slipping below it in July, charts on crypto exchange Bittrex suggest it has skyrocketed back to the threshold.
Per data from TradingView, the Bittrex XRP/USDT chart recorded massive intraday spikes from Tuesday, Dec. 5, to Friday, Dec. 8.
Notably, the XRP price surged 43.59% on Tuesday, 55.55% on Wednesday, and 124.95% on Friday. Interestingly, Thursday was missing from the chart, emphasizing the anomaly.
These surges resulted in the price of XRP rallying from $0.6266 on Dec. 5 to a high of approximately $0.90 on Friday.
XRP Price Glitch on Bittrex
However, this price position is far from the reality in the market. Realistically, XRP is only 1.2% up from its price on Dec. 5. The digital asset is also facing massive declines like the rest of the crypto market.
The recent price spikes on Bittrex are a glitch attributed to the exchange’s decision to wind down operations.
The Crypto Basic reported last month that Bittrex Global had disclosed plans to suspend all trading activities and shut down operations on Dec. 4. The decision came up shortly after the exchange’s battle with the U.S. SEC.
XRP Price Faces A History of Glitches
Several XRP community members have speculated that the current situation represents one of the multiple cases of price glitches peculiar to XRP over the past few months.
One of these instances saw XRP skyrocket to a high of $50 on U.S.-based exchange Gemini. This resulted from a thin order book, as Gemini had just listed XRP.
In October, XRP recorded another glitch, surging to a high of $34,603 on CoinMarketCap. Notably, Bitcoin’s price replaced XRP’s price on the price-tracking platform at the time. In another instance in October, the XRP community witnessed XRP rise to $5,805 on Binance.
However, not all price glitches resulted in price surges. In mid-October, crypto exchange Bitstamp had to suspend XRP trading on its platform temporarily. Notably, several users had taken to X to highlight a strange XRP price crash on the platform from $0.50 to $0.4587.
Nonetheless, the latest situation with Bittrex is not a glitch uniquely affecting the XRP price. Instead, it is due to the winding down of trading on the exchange. Other assets, including Bitcoin, also witness prices that are different from their actual market values.
