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    Home » Crypto News » XRP Price Explodes to $50 But It’s Not What You Think

    XRP Price Explodes to $50 But It’s Not What You Think

    Author: Dimitar Dzhondzhorov

    Last Updated Aug 11, 2023 @ 07:23

    XRP’s price has supposedly mooned to $50 on Gemini before quickly falling to $0.63.

    The native token of Ripple – XRP – has briefly skyrocketed to $50 on the popular cryptocurrency exchange Gemini hours after the latter allowed deposits with the asset. 

    The development seemed to be a short-lived glitch as the coin quickly retraced to its current level of approximately $0.63. 

    • Several screenshots revealed that XRP spiked to an all-time high of $50 on Gemini’s platform after the company enabled users to make deposits with the Ripple-issued token.

      Major exchange @Gemini had a glitch.

      $50 per #XRP! 👀 pic.twitter.com/UBEWN7Rv7j

      — JackTheRippler ©️ (@RippleXrpie) August 10, 2023

    • The price dropped just as quickly in the following hours and is now hovering around $0.63 (the same valuation is observed on the crypto data aggregators CoinGecko and CoinMarketCap).
    • The cryptocurrency exchange, spearheaded by the Winklevoss twins, became the latest to add support to XRP following Ripple’s landmark victory in its legal battle against the US SEC.
    • Coinbase, Kraken, and Crypto.com, which removed the asset from their platforms once the securities regulator filed a lawsuit against the blockchain enterprise, re-launched trading services with the asset last month.
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    You Might Also Like:

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    Tags: Gemini Ripple (XRP) Price
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    About The Author

    Dimitar Dzhondzhorov
    More posts by this author

    Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.

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