The price of Ripple at over $8000 on Coinbase
The price of Ripple at over $8000 on Coinbase

The price of Ripple at over $8000 on Coinbase

By Alfredo de Candia - 8 Jan 2020

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It sounds incredible but this is exactly what happened on the Coinbase platform: for a few moments, the price of XRP went above the price of bitcoin, reaching the value of $8000.

This is the chart posted on Twitter which shows what happened:

The price then returned to normal. It is difficult to understand whether it was a problem with the platform not interpreting the input data correctly, or whether some trader misplaced the order since he might have entered the purchase value for bitcoin, causing the anomaly to momentarily be created on the XRP page.

A frightening difference in price, considering that this event has marked a price for Ripple of $8341, while in recent times the average value of XRP has been around $0.21, so it is an increase of nearly 4 million times.

It is interesting to note that a high price for XRP would also imply a considerable wealth for its holders, also because the supply of XRP has several billion in circulation and so even the total capitalisation would result in a staggering amount, given that the value of $8341 would have to be multiplied by that of the current supply which is currently 43.3 billion XRP.

But unfortunately, this is not realistic and the anomaly has lasted the blink of an eye. Recently the asset has been delisted from the Bitbox exchange because it is not in line with their standards.


Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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