During the CNBC Crypto World show, an on-air graphics error showed the XRP price surging 6,500% all the way to $126.
Ripple’s native cryptocurrency XRP XRP $1.76 24h volatility: 5.8% Market cap: $107.23 B Vol. 24h: $5.02 B was seen trading at $126 on the CNBC “Crypto World” show. This led many investors to be confused as to what caused this 6,500% upside in XRP price. However, CNBC seems to have confused XRP with Solana SOL $116.2 24h volatility: 5.4% Market cap: $65.75 B Vol. 24h: $8.41 B , in what seems to be an error with wrong ticker usage.
CNBC Error Showed XRP Price Surging to Three-Digits
A brief on-air graphics error on CNBC this week momentarily showed XRP trading at $126.01. This was enough to trigger major discussions within the trader community.
The mistake occurred during a Jan. 28 segment of Crypto World covering the Senate Agriculture Committee hearing on crypto market structure. At the time, the program correctly displayed Bitcoin BTC $82 617 24h volatility: 6.0% Market cap: $1.65 T Vol. 24h: $91.09 B at $89,532, down 0.39% on the week, and Ethereum ETH $2 741 24h volatility: 6.5% Market cap: $330.81 B Vol. 24h: $46.92 B at $2,996, off 0.77%.
However, when the broadcast showed XRP, the on-screen ticker listed “$126.01, -3.8% (7D).” This meant that the XRP price was trading 6,500% higher than its actual market price at $1.90 back then.
However, confirming this glitch, CNBC producers noted that the show had mistakenly inserted Solana’s spot price, which was trading at $126 back then. “On Jan. 28, the show mispriced XRP by using Solana’s value in its place,” the report explains.
During the broader crypto market selloff in the last 24-hours, XRP price is down by an additional 7%, falling under the crucial support of $1.80. Technical indicators show that XRP is trading within a descending channel, marked by a series of lower highs and lower lows. It shows that XRP is currently in strong bearish momentum.
XRP Price descending channel | Source: TradingView
For now, $1.70 remains a critical support zone for the XRP price. On the upside, $1.90 remains a significant resistance area, where selling pressure is likely to stop further upside.
Spot XRP ETF Bleeds by $92 Million
Amid the market-wide correction, crypto ETFs saw major outflows on Jan. 29 trading sessions. Outflows from Bitcoin and Ethereum ETFs nearly stood at $1 billion. Similarly, spot XRP ETFs registered $92 million outflows during yesterday’s trading session, as per data from SoSoValue.
Spot XRP ETF outflows | SoSoValue
As per the on-chain data, most of the outflows were led by the Grayscale XRP ETF (GXRP). The total assets across all ETFs currently stand at $1.2 billion.
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