David Schwartz, Ripple’s chief technology officer, recently had an interaction with an XRP supporter, discussing the cryptocurrency’s price of $3.84 that was reached in January 2018.
For a long time, this price has He was referred to an “all-time high” for XRP (ATH). However, Schwartz He explained That despite the price of $3.84 It is widely considered Like the ATH, it was not a true representation of the price at which the currency could be bought or sold at that time.
the truth
Ripple’s CTO explained that this peak price was largely due to inflated values caused by “Korean exchange rates” during that period. He added that the price of the currency on global stock exchanges was lower.
Schwartz also explained that bitcoin and other crypto assets can have different prices on multiple platforms because they are Decentralized assets. This is why crypto asset prices are often higher on Korean exchanges compared to other exchanges globally.
While Schwartz’s clarification on the $3.84 ATH may change the views of some industry players, the price of XRP has continued to gain momentum recently.
Recent price action of XRP
According to current CoinGecko data, the digital asset has been supported registered Gains 14.8% in the last 24 hours and is trading at $3.35. The impending departure of SEC Chairman Gary Gensler is partly responsible for some of these gains.
Multiple reports indicate that the SEC may begin dismissing some pending cases related to cryptocurrencies after Gensler’s final day in office. On January 20th. However, the regulator will not refuse Crypto scam Cases.
The potential approval of XRP ETFs after Trump’s inauguration, among many other crypto-friendly policies, is contributing to the return of the price of these digital assets. This renewed uptrend has taken XRP close to $3.84.
It surpassed $3 on January 15, reaching its highest price since 2018. Following this milestone, the Ripple-related coin replaced Tether’s stablecoin USDT to become the third-largest cryptocurrency by market capitalization.