Facts You Need to Know About Ripple's XRP ATH
Author: David CastilloIn reality, the foreign exchange rate for South Koreans has always been lower in comparison to what is available on transfers outside Korea due to government trading regulations. Since the $3.84 figure consists of Won exchange rate, which could not be used to trade on South Korean exchanges, the ATH of XRP is actually lower at $2.80 per token. This was substantiated by Schwartz in a tweet from April 8th.
In a similar vein, XRP's current rate of 336 Nigerian Naira per token on Luno exchange platform does not fairly represent its true price. If the conversion rate was based on the official exchange rate of 460 Nigerian Naira for $1, the equivalent for XRP is $0.72 – more than double the exchange rate of 336 Naira per XRP.
Therefore, it is quite evident that the widely accepted value of XRP's ATH being $3.84 is inaccurate depending on the resources and geographic locations involved. It is a reminder of how the true value of assets can be distorted by the instability of their exchange rates which ultimately cause traders and investors to lose out.