XRP Reaches a New All-Time High at $3.39 | Airdrop Alert Pro

XRP hit an all-time high of $3.39, surpassing its 2018 peak for the first time in nearly seven years. The Ripple altcoin is currently up more than 15% and is up 40% so far in January.

XRP also has a market capitalization of nearly $193 billion and is currently the third largest cryptocurrency, surpassing Tether. SolanaBNB, etc.

XRP’s historical highest price is not $3.84

The commonly quoted XRP all-time high of $3.84 is considered misleading. In fact, the price is about $3.30 to $3.40. Ripple’s CTO David Schwartz clarified this when considering these factors.

Although platforms like CoinMarketCap show XRP’s all-time high at $3.84, the altcoin has never been bought or sold at this price.

“This is often reported as an all-time high, but you can’t actually sell XRP for $3.84, nor do you have to pay $3.84 to buy it. This number includes inflated amounts due to using “official” currency rates instead of South Korean rates ” Wrote David “JoelKatz” Schwartz, Ripple’s chief technology officer.

This misunderstanding is due to “Premium kimchi”. Cryptocurrency prices in the Korean market trade at a significant premium compared to global markets.

The difference stems from capital controls and market inefficiencies within South Korea, which have led to higher local prices. When these higher prices are factored into the global average without adjustment, they can artificially push up perceived all-time highs.

“After 7 years of consolidation, XRP just hit an all-time high of $3.38. This was a huge breakout and targets of $5-10 are now open. It’s the start of alt season,” Wrote Influencer Ash Crypto.

XRP hits new all-time high, marking historic return

XRP has underperformed during multiple bull markets over the past six years. While Bitcoin, Ethereum, and Solana hit consecutive all-time highs, XRP has struggled to even break $1 since 2021.

This is due to SEC’s long-running lawsuit against the company. SEC claims XRP is Safety Ripple violated federal securities laws by failing to register the token sale. The lawsuit severely impacted the altcoin’s growth throughout the year.

However, since Donald Trump will be re-elected in November 2024XRP has found new life. There are several reasons behind this resurgence.

Trump is expected to introduce a number of regulations to support cryptocurrencies once he takes office. The president-elect has pledged Overhauling the SEC’s regulatory framework.

Most importantly, Trump’s policies will focus on keeping U.S. soil Cryptocurrency Company Be stronger in the market. Ripple, as one of the largest cryptocurrency entities in the U.S. market, enhances XRP’s credibility.

In addition, currently SEC Chairman Gary GenslerThe person responsible for XRP review will resign next week. The SEC already has a pro-crypto leader, Paul Atkins, poised to take over the role.

Meanwhile, Ripple has continued to donate to Trump’s campaign and inaugural committee, signaling that the company will be on the side of the new administration.

“XRP just hit a new 7-year high, surpassing the $3.39 market cap for the first time since January 2018. With this rise, we just saw 2,365 XRP trades over $100,000 in the last 8 hours, which is the highest peak The total number of holders has also skyrocketed since December 34.” Wrote Holy.

yesterday, SEC appeals district court decision XRP sold to retail investors does not qualify as a security. However, the crypto community believes this is Regulators make last-ditch attempt to disrupt company ahead of a change of government next week.

It is generally expected that SEC under Paul Atkins This lawsuit will be dropped, which could spark another potentially hyperbolic bull run for altcoins.

at present, The XRP community is extremely bullish After setting a new all-time high today.