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XRP experienced a momentary skyrocket to $50 on the Gemini cryptocurrency exchange, propelling the token's market capitalization into the trillions of dollars, even if this impressive valuation lasted only for a brief span.

Prices surged to those levels for a brief few minutes at 8:30 PM UTC on Thursday before promptly returning to match the prevailing rates in the spot markets across other exchanges.

The minor hiccup, which was swiftly rectified within a few seconds, probably occurred due to a lack of substantial trading activity during the initial hours following the re-listing of the token on Gemini. It's plausible that a buyer executed a significantly large market order during this period, leading to its fulfillment at an exceptionally inflated price.

According to price chart data, XRP was observed trading above the general market levels for a span of several hours.

A number of market experts suggested that a seller entered a deceptive order at $50 per XRP. This order was filled accidentally by a buyer who might have mistakenly entered the trade due to an error often referred to as a "fat-finger" mistake.

The market depth data illustrates that the liquidity of XRP on the Gemini platform is comparatively limited. A mere $37,000 order is sufficient to induce a 2% price shift on this exchange. In contrast, achieving a similar price movement on Binance would necessitate a minimum of $2.2 million.

After a court order in favor of Ripple Labs in July, the tokens were once again made available for trading on the Gemini platform. The judges' decision stated that the trading of XRP on digital asset exchanges should not be considered as the offering or sale of investment contracts. Previously, there were accusations that Ripple Labs had unlawfully sold XRP, which was considered a security, to customers in the U.S. without proper registration with the U.S. Securities and Exchange Commission (SEC).

As of the time of composing this text, the value of XRP stood at 63 cents in the trading market.