XRP News Today: XRP's True All-Time High Debated Amid $3.66 Surge

Ripple's Chief Technology Officer, David Schwartz, has recently addressed the community's curiosity about whether XRP has surpassed its previous all-time high. The recent price surge of XRP to $3.66 has sparked debate, with some arguing that it has yet to reach its 2018 high of $3.84. Schwartz has provided a different perspective, explaining that the $3.84 figure is misleading due to inflated data from South Korean exchanges. These platforms used unrealistic exchange rates to convert Korean won (KRW) into U.S. dollars, artificially inflating the price of XRP. According to Schwartz, very few, if any, transactions occurred above $3.30, except for brief spikes where some traders may have overpaid. He believes the true all-time high for XRP is between $3.30 and $3.50, not $3.84 or higher.

This discrepancy is linked to the "Kimchi Premium," a phenomenon where cryptocurrencies trade at higher prices on South Korean exchanges due to strict capital controls and high local demand. During the 2018 bull run, this premium caused XRP prices in KRW to convert to approximately $4.40, but this did not reflect the global value of the cryptocurrency. Schwartz's assertion is supported by historical price data from major exchanges in 2018. Bitstamp, Binance, Bitfinex, and Poloniex all recorded highs around $3.30 to $3.50, none of which reached $3.84. If Schwartz's explanation is accurate, XRP's recent rise to $3.66 could represent a new true all-time high, indicating that the cryptocurrency is entering uncharted territory on a global scale.

While some community members continue to debate the numbers, Schwartz's insights serve as a reminder that not all all-time highs are equal, especially when exchange rates and local premiums are involved. This clarification provides a clearer understanding of XRP's price history and its current market position. The recent price movement of XRP has been a topic of discussion, with some community members questioning whether the cryptocurrency has reached a new all-time high. Schwartz's clarification helps to address these concerns and provides a more accurate picture of XRP's price history. The recent price movement of XRP has been a topic of discussion, with some community members questioning whether the cryptocurrency has reached a new all-time high. Schwartz's clarification helps to address these concerns and provides a more accurate picture of XRP's price history.