XRP News Today: XRP's True ATH Debate: $3.65 vs $3.84

Ripple's Chief Technology Officer, David Schwartz, recently clarified the discrepancy surrounding the all-time high (ATH) price of XRP. On July 18, the price of XRP reached $3.65, which many investors considered a new ATH. However, there is a differing opinion among market participants who believe the true ATH is $3.84. This discrepancy arises from the listing of $3.84 as the ATH on some price-tracking websites, while others list $3.65 as the new ATH.

Schwartz explained that the $3.84 price is a result of averaging XRP/WON exchange rates at Korean exchanges, which convert the Won to USD at an unrealistic exchange rate. This phenomenon, known as the Kimchi Premium, causes cryptocurrency prices on South Korean exchanges to trade above global averages. The official Korean Won to USD exchange rates used by these exchanges do not reflect real-world prices, making crypto prices appear higher in USD terms compared to other markets.

This debate resurfaced when XRP hit $3.39 in January, and Schwartz explained that no one bought or sold XRP for $3.84. Despite this, many price-tracking websites still list $3.84 as XRP’s ATH. Schwartz’s comments suggest that this price is misleading and does not accurately represent the true market conditions.

Schwartz further explained that anyone who bought XRP above $3.3 either paid too much or bought a few days after its price breached that level. He has previously suggested that the asset’s ATH might be as low as $2.8. However, most exchanges and other experts agree that it was around $3.36. XRP’s recent climb to $3.65 now stands as a more credible ATH, backed by cleaner, more consistent pricing data. Unlike the inflated figures pulled from South Korean markets in 2018, this level reflects a broader market consensus and excludes the impact of unrealistic exchange rates.

Schwartz also insinuated that XRP's price movements often do not align with its “true value” or utility. This remark came as part of his broader explanation of the discrepancies in XRP's pricing history. He emphasized that earlier data showing XRP prices above $3 did not accurately reflect actual market conditions.

According to analysts' forecasts, the debate over XRP's ATH may not last long, as experts believe the asset will soon break the $3.84 mark. In the lead-up to July, analysts predicted significant gains for XRP, and many still have high expectations for the asset, expecting double-digit prices. Technical indicators and broader market factors have been building up to this moment, and XRP could potentially cross $10 before the month ends. However, it is important to note that these are analysts' forecasts and not guaranteed outcomes.