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- Recent judicial decision favoring Ripple has ignited a surge in the altcoin market.
- In addition to XRP, Stellar (XLM) and other leading altcoins are experiencing significant price increases.
Following Ripple’s legal triumph over the SEC, the cryptocurrency market is witnessing a transformative phase, showcasing remarkable price increases. Major cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have reached new one-year peaks. The enthusiasm among investors and traders participating in the current bullish trend is reflected in the market’s daily trading volume, which has risen by nearly 131%.
Crypto Market Heatmap (Source: TradingView)
Notably, altcoins have dominated the list of top gainers in the last 24 hours. Alongside XRP, the following altcoins are leading the bullish altcoin season with their impressive 24-hour price increases.
Ripple (XRP)
XRP, the native cryptocurrency of Ripple, has soared following the news of Ripple’s victory against the SEC. The digital asset has seen a dramatic rise, enhancing the confidence of the XRP community. Furthermore, XRP has surpassed Binance Coin (BNB) and USD Coin (USDC) to secure the 4th position. Major cryptocurrency exchanges, including Coinbase, Gemini, and Kraken, are relisting Ripple after the significant lawsuit win against the SEC.
At the time of writing, Ripple (XRP) is trading at approximately $0.7886, reflecting an increase of over 67.83% in the past 24 hours. The trading volume for XRP has experienced a substantial rise of over 1688.78%, according to CoinMarketCap.
Stellar (XLM)
As Ripple’s success has catalyzed the altcoin season, Stellar (XLM) has emerged as a primary beneficiary, recording a notable increase of 54%. XLM surged to reach its one-year high of over $0.1977 during the early hours in Asia. At the time of writing, this altcoin is trading in the overbought territory.
Stellar (XLM) Price Chart (Source: TradingView)
According to CoinMarketCap, at the time of writing, XLM is priced at $0.1493 with an impressive increase of 3208% in 24-hour trading volume. Stellar’s market capitalization has surged to reach the $4 billion threshold.
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Solana (SOL)
Like other altcoins, Solana (SOL) faced regulatory scrutiny from the SEC, receiving the designation of “security.” Consequently, SOL’s price dropped to $15, marking one of its bearish lows. However, the outcome of the lawsuit has invigorated SOL’s market momentum, positioning it for an upward trend.
Solana (SOL) Price Chart (Source: TradingView)
At the time of writing, Solana is trading at around $28.43, with an increase of over 30.14% in the last 24 hours. Its daily trading volume has risen by over 338.41%, and SOL is currently in the overbought zone.
Pepe (PEPE)
The well-known frog-themed memecoin Pepe (PEPE) has also emerged as the leading gainer in the crypto market today. The memecoin has demonstrated significant movement in its trading price during the recent altcoin season. At the time of writing, Pepe is trading at approximately $0.000001746, reflecting a rise of over 18.46% in the past 24 hours. The trading volume for the memecoin has increased by 244.29%.
PEPE Price Chart (Source: TradingView)
Cardano (ADA)
Cardano (ADA) has rarely appeared on the top gainers list since April. However, Thursday’s positive developments in the crypto space propelled ADA onto the list with a 24-hour price increase of 21% to $0.3673. Investors have flocked to the altcoin, boosting its daily trading volume by 808.47%. As per CoinMarketCap, at the time of writing, Cardano (ADA) is priced at $0.3504.
Cardano (ADA) Price Chart (Source: TradingView)
The notable increases in the cryptocurrency market clearly indicate that Ripple’s lawsuit victory has triggered altcoins to dominate the top gainers. Furthermore, the bullish momentum is anticipated to persist in the coming days, marking a significant milestone in the cryptocurrency landscape.
Disclaimer: The views expressed in this article are for informational purposes only and do not necessarily reflect the opinions of TheNewsCrypto. The content provided should not be interpreted as investment advice.
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