XRP News Today: XRP's True All-Time High Revealed At $2.80 By Ripple CTO

Ripple CTO David Schwartz has clarified the true all-time high of XRP, dismissing claims that the cryptocurrency still trades below its January 2018 peak. Schwartz's comments come amid discussions within the XRP community about whether the recent price surge to $3.66 constitutes a new all-time high or merely a revisit of older price levels.

Schwartz explained that earlier data showing XRP prices above $3 did not accurately reflect market conditions. He noted that these figures included exchange rates from platforms that converted foreign currencies, particularly the South Korean won (KRW), into U.S. dollars using inflated conversion rates. According to Schwartz, XRP’s true all-time high is closer to $2.80, challenging the widely cited $3.84 figure from January 2018.

Schwartz maintained his stance in a recent response, stating that very few people, if any, bought XRP above $3.30 unless they overpaid or bought during a brief price spike. This view was contested by some who argued that early XRP activity on exchanges like Poloniex and Yobit contributed to the higher figures. Schwartz clarified that the $3.84 number likely came from average prices that included trading data from Korean exchanges, which listed XRP in Korean won and converted it to U.S. dollars using unrealistic exchange rates.

Schwartz highlighted the Kimchi Premium, a phenomenon where cryptocurrencies often trade higher on South Korean exchanges due to strong local demand and strict capital controls. Data from the 2018 bull run supports Schwartz’s explanation. For instance, Bitstamp showed XRP peaking at $3.31, Binance at $3.35, and Bitfinex at $3.30. Poloniex listed a price of $3.50, none of which matched the commonly cited $3.84. On Upbit, South Korea’s largest crypto exchange, XRP reached a high of 4,925 KRW, which, when converted to USD at the time, resulted in an inflated price of around $4.4.

Schwartz’s disclosure suggests that XRP has already moved into price discovery with its recent $3.66 high. If the most reliable 2018 prices sat between $3.30 and $3.5, then XRP’s latest rally pushed it into uncharted territory, regardless of the overstated numbers from Korean exchanges. This clarification provides a clearer picture of XRP’s price history and its current market position.