Ripple CTO Clarifies XRP's $3.84 "ATH"

Ripple’s Chief Technology Officer (CTO), David Schwartz, had an interaction with an XRP advocate recently, discussing the cryptocurrency’s $3.84 price reached in January 2018.

For a long time, this price has been referred to as XRP’s “all-time high” (ATH). However, Schwartz explained that although the $3.84 price is widely regarded as the ATH, it was not a true representation of the price at which the coin could be purchased or sold at the time.

The Truth

The Ripple CTO explained that this peak price was largely due to the inflated values caused by the “Korean exchange rates” during that period. He added that the coin’s price on global exchanges was lower.

Schwartz further explained that Bitcoin and other crypto assets can have differing prices on multiple platforms since they are decentralized assets. That’s why the prices of crypto assets are often higher on Korean exchanges than on other exchanges globally.

While Schwartz’s clarification on the $3.84 ATH may change some industry players’ perspectives, XRP’s price has continued to gain momentum lately.

XRP’s Recent Price Action

According to current CoinGecko data, the digital asset has recorded a 14.8% gain in the last 24 hours and trades at $3.35. The imminent departure of Securities and Exchange Commission (SEC) Chairman Gary Gensler is partly responsible for some of these gains.

Multiple reports suggest that the SEC might start dismissing some pending crypto-related cases after Gensler’s final day in office on Jan. 20. However, the regulator will not dismiss crypto fraud cases.

The possible approval of XRP ETFs after Trump’s inauguration, among many other crypto-friendly policies, contributes to the resurgence in this digital asset’s price. This renewed uptrend has caused XRP to get closer to $3.84.

It surpassed $3 on Jan. 15, hitting its highest price since 2018. Following this milestone, the Ripple-linked coin has replaced Tether’s USDT stablecoin to become the third-largest cryptocurrency by market cap.