The XRP community is abuzz over a recent transaction on the XRP Ledger,
where a price apparently set the price of XRP at a staggering $1,000. This situation has sparked speculation about a possible drastic increase in the price of the cryptocurrency. However, XRPL validator Vet has stepped in to clarify that this is merely an offer on a decentralized exchange (DEX), where the price is determined by trading orders and does not reflect the true market value.
The confusion arose because on the DEX, an âofferâ is simply a proposal to trade, and the example of someone willing to trade 6,000 RLUSD for 6 $XRP raises questions about the viability of such a transaction. So while the $1,000 figure has caught some attention, itâs important to remember that it doesnât indicate a fundamental change in the value of XRP.
Stay tuned for the full analysis to be published later today.
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