Ripple’s (XRP) landmark win against the SEC, had a ripple effect on the crypto market, creating newfound confidence in investors. The summary verdict in favor of XRP, changed the crypto landscape, which has been full of regulatory concerns over the last year. Now that XRP is not considered a security, it was a victory not only for XRP, but also for the entire crypto industry.
After winning the lawsuit, XRP skyrocketed, The native token of the Ripple payment system suddenly became the best performer among the top 25 crypto assets gaining 3.6%, and the atmosphere within the crypto landscape had a major uplift. Even though the bullish momentum has now begun to wane, XRP remains in an uptrend and could head for an even stronger rally in the future.
XRP has taken its place as the fourth largest digital asset by market value, toppling the embattled exchange giant Binance’s BNB token.
“XRP has been fighting the good fight for years with the SEC. The recent ruling not only validates their token, which has led to major gains, but sets a precedent important across all altcoins. It is a major nail in the coffin of regulation by enforcement.”
“The best altcoins are the ones designed with a clear vision to address a problem or service a particular use-case. Ripple’s XRP is a good example of this and markets seem to be recognising XRP quality as a payments and treasury solution.”