According to CoinMarketCap, the price of XRP, the contentious cryptocurrency connected to the San Francisco-based corporation Ripple, has increased by 2.45% recently.
After recent losses, several significant cryptocurrencies have also seen modest improvements over the previous few days.
In anticipation of a crucial decision in the current Securities and Exchange Commission (SEC) case against Ripple Labs, the price increase has inspired hope within the XRP community.
Some people think that the recent price spike may be related to how the lawsuit is likely to turn out. As originally projected, the dispute may be settled in the first half of 2023, according to Ripple CEO Brad Garlinghouse.
What’s XRP’s actual all-time high?
Despite the recent increases, according to CoinGecko statistics, XRP has lost a lot of ground since reaching an all-time high of $3.40, a loss of 86.11% since January 7, 2018.
Nevertheless, there is presently a disagreement among the XRP community as to what the true all-time high price is.
Chief technical officer of Ripple David “JoelKatz” Schwartz recently offered his opinion on Twitter.
The $3.84 number, which some claim to be the record high, is inaccurate, according to Schwartz, since it incorporates Korean currency rates that valued the Won at an official exchange rate that was not feasible in practise.
He continued by saying that because to capital controls in South Korea, which made the Won less valuable than other currencies outside the country, it was never truly feasible to receive $3.84 for one XRP.
