Contents
On Ripple’s court victory and crypto market euphoria, we guess about the potential alt season, and discuss the most important chart of all.
After the court’s acquittal ruling, the XRP exchange rate rose by 66% overnight, and the asset also climbed to 4th place in cryptocurrency market capitalization. Bitcoin rose above $31k, and Ethereum broke through the psychological level of $2k at one point.
And while the ruling in court on XRP has caused euphoria in the crypto market, it’s definitely not a final victory just yet. Ripple Labs’ triumph in court against the SEC is seen as a significant blow to the regulator’s “war” on crypto, but crypto lawyers warn that it’s not a certain final victory for the industry.
The brand new newsletter with insights, market analysis and daily opportunities.
Let’s grow together!
Here are some drowning details that got lost in the noise of the victory:
After the historic decision on Ripple, it’s a good time to ask an important question: who is also affected by this decision in a similar way? More recently, the SEC also accused a number of top altcoins of similar sins to XRP — allegedly being securities. However, the SEC did not sue them, but it led to the collapse of the market for these altcoins, and some exchanges rushed to delist them. And now what?
Solana, on the news of Ripple’s victory, rose disproportionately high by 25%, and Cardano by 21%. Not bad? It’s probably time to review the top altcoins for their toxicity because the Ripple decision is potentially a game changer for them too. So if you’re too late to bet on XRP, there’s still an opportunity to bet on the following favorites.
Notice how Bitcoin’s dominance has plummeted after the news of XRP’s win; it could be a serious claim to start the altcoin season. Let’s wait for the recalculation of the altcoin index in the coming days, but in the meantime, we advise you to think hard this weekend about a group of previously “cursed” by the SEC altcoins.
The crypto market capitalization chart clearly demonstrates that the macro correction has been repeated almost perfectly and everything is ready for another growth cycle (which will start at the end of this year or the beginning of next year).
Hey, crypto enthusiasts! 👋 ☝️ MEXC will support the Chiliz (CHZ) network upgrade and hard…
Binance, the largest cryptocurrency exchange globally, has played a crucial role in the arrest of…
In the ongoing legal confrontation between Ripple Labs and the U.S. Securities and Exchange Commission…
LocalMonero, a peer-to-peer (P2P) trading platform known as the Monero equivalent to LocalBitcoins, has ceased…
The Starknet Foundation has launched a $5 million grant program dedicated to fostering innovation and…
Polygon, an Ethereum layer-2 scaling solutions developer, is intensifying competition in the blockchain scaling arena…