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Every bull cycle brings ambitious price calls, but sometimes it all gets a bit out of hand. This week, an XRP holder publicly posted an order to sell a single token for $1,000, saying that one day the market would reach such levels. The order got people's attention, of course, but it also gave XRPL's developers a chance to explain how the ledger's mechanics actually work and why a fantasy listing does not mean a buyer will ever show up.
Wietse Wind, one of the most visible builders on XRPL, said that the network does not just match any price you put into the system.
Instead, XRPL goes through its order book and automated market maker pools, filling trades at the best available level. Thus, if there is an over-the-top sell order, it will just sit there until all the more realistic offers have been cleared. In his words, the ledger "finds the best offer, meaning everything before you in the books first has to be eaten."
He later explained that the idea is that XRP Ledger basically protects users from themselves. Even if someone lists 1 XRP at a ridiculously high price, like $1,000 or even a desperate $0.01, the trade will still be executed at around the fair market rate.
What's fair price for XRP?
Today this rate is at about $2.99 per XRP, with sellers lined up around $3.12 and buyers showing support near $2.94. If the $3.12 ceiling breaks, traders are watching for a move toward $3.30 in the short term, while slipping under $2.93 could put $2.63 back in play.
What this debate over the $1,000 sell order really shows is that XRPL’s matching logic locks you into the real market, not the fantasy listings, which means price action stays anchored to liquidity levels that traders can actually hit.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team