On November 24, the price of XRP jumped to over $ 0.90, before falling rapidly by about 30%.
This course was only seen on Coinbase and as a result of the madness its website temporarily went down.
XRP is benefiting from an extended price rally, but still falls short of its previous all-time highs
The price of Ripple’s XRP token, currently the third-largest cryptocurrency in the world by market cap, climbed to $ 0.90 today, only to fall rapidly by 30%.
This was apparently motivated by Coinbase users as the price of XRP has not reached the same levels on other exchanges. Bitfinex, Bitstamp, and Kraken, for example, recorded numbers as low as $ 0.80 during the same period.
In light of this, some believe the market has reached a stage in the bull run where prices are starting to diverge on different exchanges – a phenomenon that can often be attributed to liquidity issues.
Shortly after the peak and the mini-crash that followed, “Coinbase” started trending on Twitter in the United States. As in the past, the surge in activity appears to have crushed Coinbase’s website.
This is not without precedent and seems to have happened again despite CEO Brian Armstrong’s statements about the preparation. “We are working hard to add additional capacity (both at the server and customer support level) to cope with the increased traffic,” he tweeted on November 18.
Target previous summits
As previously reported by BeInCrypto, XRP had a historically good week, climbing 100% in seven days, including a 40% increase from $ 0.32 to $ 0.45 in just 24 hours between November 21 and 22. .
According to Forbes , the latest rally was primarily driven by the news that the company behind XRP, Ripple, which owns around 60% of the tokens, said it was looking to capitalize on a central bank rush to digitize its currencies. .
Despite its current rise, XRP is still down around 80% from its 2018 high.