A. The market

How OBEY's price is made

The pool that sets OBEY's price, and which kinds of transaction moved it, by how much.

Published

October 2, 2026

Ledger index

107030551

Contents

• How a pool sets the price
• What moved the price, by kind of transaction
• The kinds of transaction that trade OBEY
• Pool or order book
• The pool's fee

OBEY's price is made in one place above all: the OBEY/XRP pool, rp3KykYebksKDX1GPdMWTBwjiGjLmTgWxq (OBEY/XRP pool). This article shows how that pool sets the price, what kinds of transaction move it, and by how much each kind has moved it over the pool's whole life.

How a pool sets the price

Table 1. The OBEY/XRP pool right now.

every row: download obey-pool-now.csv.

The price is the XRP the pool holds divided by the OBEY it holds. Whatever changes either balance changes the price: buying OBEY from the pool or taking OBEY out of it pushes the price up; selling OBEY into it or putting OBEY in pushes it down; putting both in, or taking both out, at the pool's own ratio leaves it where it was.

What moved the price, by kind of transaction

Every transaction that changed the pool's balances changed its price by a factor — after divided by before. Multiplied together, those factors give the whole move. On a logarithmic scale they add up, so each kind of transaction's share of a move can be stated exactly. The pool opened at 6.9000 XRP per OBEY, reached its highest price, 32,842.2531, at 2024-11-16 13:42:10 UTC, and stands at 2,860.6916 now. The tables below split three stretches: from opening to the peak, from the peak to now, and the whole life. They cover every account, not any one holder.

How to read the shares: each kind's share is its own logarithmic move divided by the stretch's whole logarithmic move, so the shares always add up to exactly 100% — the last row of each table shows it. A kind that pushed the price the other way has a negative share, which is why one kind can show more than 100%, or close to it, while others show minus signs: the rises of one kind pay for the falls of another. For example, a share of 150% next to a share of −50% means the first kind alone would have moved the price half as far again as it actually went, and the second kind took that half back.

Table 2. Every change in the OBEY/XRP pool's price from opening to the peak (6.9000 to 32,842.2531 XRP per OBEY, ×4,759.747), by kind of transaction.

every row: download obey-price-moves-by-kind-to-peak.csv.

Table 3. Every change in the OBEY/XRP pool's price from the peak to now (32,842.2531 to 2,860.6916 XRP per OBEY, ×0.087), by kind of transaction.

every row: download obey-price-moves-by-kind-from-peak.csv.

Table 4. Every change in the OBEY/XRP pool's price the whole life (6.9000 to 2,860.6916 XRP per OBEY, ×414.593), by kind of transaction.

every row: download obey-price-moves-by-kind-all.csv.

The rises and falls columns show how much each kind pushed the price up and down along the way. What is left over, in the column headed “multiplied the price by”, is what that kind of transaction did to the price in the end.

The kinds of transaction that trade OBEY

Table 5. Every transaction that moved OBEY, grouped by what it did to its sender's own OBEY balance, the most common first.

every row: download obey-trade-kinds.csv.

Pool or order book

Table 6. OBEY against XRP each month, in the OBEY/XRP pool and on the order book only. The market article's month table counts every pool and every pair.

every row: download obey-pool-or-book.csv.

The pool's fee

Table 7. Every fee the pool's LP-token holders set by vote, the opening fee first; a vote that left the fee where it was is still listed.

every row: download obey-pool-fee.csv.

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