Bitstamp prints 37% one-minute XRP wick

Bitstamp’s XRP/USD pair recorded a 37.15% high-to-low one-minute wick on Aug. 23 UTC, moving from $1.69739 at 05:03 to $1.06689 in the 05:10 candle. The same one-minute candle closed at $1.44837, recovering most of the drop within that minute.

The sharp one-minute low appeared on Bitstamp’s XRP/USD feed only. Kraken’s XRP/USD registered a 24-hour high near $1.70 and a low near $1.3359, a 21.4% range. OKX’s XRP/USDT showed a $1.70 high and $1.3757 low, a 19.1% range. Price samples from multiple major spot venues later clustered around $1.49–$1.50.

A separate market-wide liquidation event overlapped the period. Trading platform relay data captured roughly $523 million in crypto liquidations over one hour, including about $448 million of long positions and $74.8 million of shorts. Rolling 24-hour liquidation snapshots varied by capture time, with totals recorded between about $1.24 billion and $1.80 billion.

Derivatives data at a sampled time showed $3.66 billion in XRP open interest and roughly $18.08 billion in 24-hour futures volume, compared with about $5.10 billion in spot volume. Funding rates and funding tables differed across venues. Matched open-interest and funding readings immediately before, during and after the one-minute print were not available.

The Bitstamp candle’s rapid recovery and the narrower intraday ranges on other venues occurred during the same timeframe. Sampled data indicate the extreme low on Bitstamp was not duplicated across major spot markets.