Debunking the $3.84 Myth
For years, cryptocurrency tracking platforms like CoinMarketCap (CMC) reported XRP's all-time high (ATH) as $3.84, allegedly reached on January 4, 2018. However, Ripple's Chief Technology Officer, David Schwartz, has officially discredited this figure, calling it "misleading" due to flawed exchange rate calculations.
Why the $3.84 Claim Is Inaccurate
Schwartz explained that the $3.84 valuation incorporated the official Korean won (KRW) exchange rate, which doesn't reflect real-world liquidity conditions. Key issues include:
- Capital controls in South Korea artificially inflated the KRW's value for external calculations.
- Traders couldn't physically exchange KRW at the official rate used by price aggregators.
- The actual market rate for KRW was significantly lower than the "official" rate.
👉 Learn how exchange rates impact crypto valuations
"That $3.84 number is just wrong and does not accurately state the value traded."
— David Schwartz (April 24, 2023)
A Global Pricing Anomaly
Similar discrepancies occur in other markets with strict currency controls, such as Nigeria:
- Luno Exchange lists XRP at 336 NGN (Nigerian naira).
- Converting this to USD using Nigeria's official rate (460 NGN/$1) yields $0.72 per XRP.
- The real-market rate (740 NGN/$1) values the same XRP at $0.45.
XRP's Verified ATH: $2.80
Schwartz confirmed that $2.80 represents XRP's true historical peak, derived from:
- Transparent liquidity conditions.
- Market-aligned exchange rates.
- Excluding artificially inflated KRW conversions.
"The real all-time high is about $2.80."
— David Schwartz (April 8, 2023)
Why This Matters for Investors
- Accurate benchmarking: Helps traders assess XRP's actual price performance.
- Market transparency: Highlights risks of relying on aggregated data without context.
- Regulatory awareness: Exposes how capital controls distort asset valuations.
FAQ: XRP Price History
Q1: Why did platforms like CMC report $3.84 as XRP's ATH?
A1: They used South Korea's official KRW exchange rate, which didn't account for local capital restrictions limiting real-world conversions.
Q2: How can investors verify crypto price data?
A2: Cross-check multiple exchanges, prioritize markets with free currency flows (e.g., USD pairs), and consult technical analyses from trusted sources.
Q3: Does this affect XRP's current market cap?
A3: No—this clarification only revises historical data. Current valuations depend on live trading pairs.
Q4: Are other cryptocurrencies subject to similar pricing issues?
A4: Yes. Assets with high trading volumes in regulated markets (e.g., Venezuela's Petro) may exhibit artificial inflation in reported values.
👉 Explore real-time crypto market data
Key Takeaways
- XRP never traded at $3.84—this figure resulted from miscalculated KRW conversions.
- The authentic ATH is $2.80, verified by Ripple's CTO.
- Investors should scrutinize exchange-rate methodologies when evaluating historical prices.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Always conduct independent research before making investment decisions.
### SEO Keywords
1. XRP all-time high
2. Ripple CTO David Schwartz
3. KRW exchange rate
4. XRP $3.84 myth
5. Cryptocurrency price accuracy
6. South Korean crypto market
7. XRP historical price