Ripple CTO Reveals Painful Truth About XRP $3.84 'ATH'
Ripple CTO Reveals Painful Truth About XRP $3.84 'ATH' Yuri Molchan Ripple’s David Schwartz confirms that XRP 2018 ATH was not quite what it was reported to be Schwartz unveils truth about XRP ATHXRP soars 16% to $3.19 Cover image via U.TodayDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Ripple CTO David Schwartz was engaged in a dialogue with an XRP enthusiast about whether the $3.84 price level achieved in January 2018 was indeed an all-time high for XRP or not.The Ripple CTO confirmed that this “ATH” was not quite what it seemed and how it was reported by the media to the global cryptocurrency community. This discussion took place as the Ripple-affiliated XRP coin has surpassed the $3 level and is targeting its old “all-time high” as it keeps moving upwards.Schwartz unveils truth about XRP ATHThe XRP enthusiast stated that $3.84 was not exactly a ATH for the XRP token, adding that such a high price was indicated due to “Korean exchange rates misleading people.” He recommended his audience to pick David Schwartz’s brain about this issue and then tagged the Ripple CTO in his X post.Schwartz appeared in the comment thread to confirm what the X user stated. Schwartz said that $3.84 is indeed “often reported as the all-time high.” However, he said, “you could not actually sell XRP for $3.84 nor did you have to pay $3.84 to buy it.” He did not share any more details about the actual ATH reached in 2018.That is often reported as the all-time high, but you could not actually sell XRP for $3.84 nor did you have to pay $3.84 to buy it. That number included inflated amounts due to the use of "official" currency exchange rates for Korean exchange rates.https://t.co/voMP2Mehsz— David "JoelKatz" Schwartz (@JoelKatz) January 16, 2025 The Ripple CTO explained that this high price contained the “inflated amounts due to the use of "official" currency exchange rates for Korean exchange rates.” And he attached a link that explains such a term as “Kimchi premium.”The term “Kimchi” is about the dish made of cabbage that is highly popular in the South Korean cuisine. Since Bitcoin and are cryptos are decentralized assets, unlike equities, they can be traded at different prices at various platforms. Therefore, when it comes to South Korea, crypto prices are usually much higher than on exchanges in other parts of the world. Related XRP soars 16% to $3.19Over the past 24 hours, XRP has surged, staging a massive 16% increase and touching on the $3.19 level. At the time of writing this material, the coin is changing hands at $3.10.XRP soared on the rumors that following the departure of the current chairman Gary Gensler, the Securities and Exchange Commission may start dropping certain crypto cases pending in courts now, which are not considered to be about frauds. Gensler’s last day in the office is January 25. Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. About the author Yuri Molchan Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc. Related articles