- Gemini listed XRP on the exchange following the verdict in the SEC vs. Ripple case.
- However, due to a technical glitch on the platform, XRP’s price was at a $50 reading yesterday.
- At press time, CoinMarketCap indicated that XRP was changing hands at $0.6328.
Gemini is the latest in exchanges scurrying to relist XRP. However, hours after it was reinstated onto the platform, a technical glitch caused the XRP price to temporarily read $50 instead of its actual value.
Twitter users were quick to screenshot and share the debacle, peddling their own theories on what happened. Some users claim that Gemini was predicting the future while others wondered if anyone was able to take advantage of the glitch and cash in. “Weird how every exchange has a glitch with XRP. Almost like they forgot to turn on the manipulation function before launching. Imagine selling at that price and sending the usdc to another exchange within that hour,” said one user.
Meanwhile, CoinMarketCap indicated that XRP was changing hands at $0.6328. This was after the remittance token gained a 24-hour hike of 1.03%. The positive daily performance resulted in XRP trading closer to its 24-hour high of 0.6391 than its daily low of $0.6253. Even though XRP’s daily and hourly performances are in the green, it is down by 4.11% over the past week.
From a technical perspective, XRP’s price was trading below the 9-day and 20-day EMA lines at press time. On 4 August, the 20-day EMA crossed the 9-day EMA, emerging above it, forming a death cross. And following this cross, the price plunged further. Now, XRP’s price has two options of movement before it. Considering the inverted hammer candlestick, a bullish reversal can be expected, and it can surge past the 9-day EMA or even 20-day EMA. However, if investors were to look at the trend line, it could also plummet to the 0.600 level.
Taking into account the recent developments in the SEC vs. Ripple case, such as the SEC filing an interlocutory appeal, the price movement of XRP is hard to predict. Traders are now awaiting Ripple’s response to the appeal to make investment decisions.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
