XRP Price Gains Momentum, Sparks Optimism Ahead of Key Ruling

XRP, the controversial cryptocurrency linked to San Francisco-based company Ripple, has gained momentum recently, with a 2.45% increase in price, according to CoinMarketCap.

Other major cryptocurrencies have also recorded incremental gains over the past few days after recent losses.

The price uptick has sparked optimism within the XRP community ahead of a key ruling in the ongoing Securities and Exchange Commission (SEC) case against Ripple Labs.

Some believe that the recent price increase may be tied to the anticipated outcome of the case. Ripple CEO Brad Garlinghouse has previously predicted that the case could be resolved in the first half of 2023.

What’s XRP’s actual all-time high?

Despite the recent gains, XRP is still down significantly from its all-time high of $3.40, a decline of 86.11% since January 7, 2018, according to CoinGecko data.

The XRP community, however, is currently engaged in a debate over what the actual all-time high price is.

David «JoelKatz» Schwartz, Ripple’s chief technology officer, recently weighed in on the matter via Twitter.

Schwartz explained that the $3.84 figure cited by some as the all-time high is misleading because it includes Korean exchange rates that valued the Won at an official exchange rate, which was not obtainable in reality.

He added that it was never possible to actually obtain $3.84 for one XRP due to South Korean capital restrictions, which caused the Won to be worth less than other currencies outside the region.

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