XRP’s Market Cap Momentarily Zoomed to Trillions of Dollars on Gemini

As such, XRP traded at levels higher than the broader market for at least a few hours, price chat data shows.

Some market observers opined a seller placed a spoof order at $50 per XRP, which was unintendedly filled by a buyer who may have “fat-fingered” the trade.

Market depth data shows XRP liquidity on Gemini remains relatively low, with only a $37,000 order required to move prices by 2% on the exchange. In contrast, the same price move on Binance would require at least $2.2 million.

The tokens were relisted on Gemini after July’s court order in favor of Ripple Labs, with judges ruling that the “offer and sale of XRP on digital asset exchanges did not amount to offers and sales of investment contracts.” It was previously alleged Ripple Labs sold XRP, a security, to U.S. customers without adequate registration with the U.S. Securities and Exchange Commission (SEC).

At the time of writing, XRP was trading at 63 cents.

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Edited by Parikshit Mishra.

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Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

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