XRP crashes 37% in one Bitstamp wick while the wider market tells a different story

XRP crashed 37% on Saturday, Aug. 22, but only on Bitstamp.

Bitstamp's XRP/USD spot pair reached a one-minute high of $1.69739 at 05:03 UTC, then fell to $1.06689 in the 05:10 candle. That was a 37.15% high-to-low move. The 05:10 candle closed at $1.44837, recovering most of the plunge before the minute ended.

Such a brief, deep move is known as a wick. The cross-venue comparison shows why this one should not be treated as XRP's market-wide return. Kraken's XRP/USD ticker showed a rolling 24-hour high of $1.70 and low of $1.3359, a 21.4% range. OKX's XRP/USDT ticker showed a $1.70 high and $1.3757 low, a 19.1% range.

By roughly 01:50 UTC on Aug. 23, CryptoSlate's XRP market data showed 10 major spot markets clustered near $1.49 to $1.50. While the sample is not exhaustive and does not reconstruct each venue's recovery path, it shows that major spot prices had converged after Bitstamp's anomalous low.

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