XRP temporarily surged to $50 on crypto exchange Gemini, which rocketed the token's market capitalization to trillions of dollars if only for aPrices shot up to those levels for a few minutes at 20:30 pm UTC on Thursday before immediately reverting to parity with the spot markets on other exchanges.
The bump, which took a few seconds to correct, was likely a result of low liquidity in the hours following a token relisting on Gemini, during which a buyer may have placed an outsized market order – which was filled at an outrageously high price. As such, XRP traded at levels higher than the broader market for at least a few hours, price chat data shows.
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