- XRP’s price surged after a U.S. judge ruled in favor of Ripple Labs, stating no violation of securities law.
- The ruling boosted the altcoin market, easing regulatory concerns about token classification.
- The overall crypto market is currently experiencing a decline, with XRP also losing value recently.
XRP experienced a significant price increase following a US judge’s ruling on July 13. The ruling stated that Ripple Labs’ sales of the token on public exchanges did not violate securities law. Following this, XRP’s market cap rose from $25 billion to $36 billion, and its crypto market share increased from 2% to 3.5%, according to CoinMarketCap.
This ruling had broader implications for the altcoin market, which includes cryptocurrencies other than Bitcoin. The victory for Ripple provided some relief to the altcoin sector, as many tokens were under regulatory scrutiny to determine if they should be classified as more tightly-regulated securities.
Analysts, such as Matteo Greco from Fineqia International, considered this ruling a significant milestone for the altcoin sector. They believe that since XRP was not considered a security, it is unlikely that many oth…
The post XRP Leads Crypto Market Charge: Is This the Start of a Bull Run? appeared first on Coin Edition.
The post XRP Leads Crypto Market Charge: Is This the Start of a Bull Run? appeared first on Coin Edition.