Crypto Market Soars to $1.3 Trillion as SEC vs Ripple Verdict Ignites Frenzy

The cryptocurrency market has witnessed a remarkable surge, propelling the total market cap to approximately $1.3 trillion, an increase of over 6.5 percent in the past 24 hours. This surge can be attributed to the final ruling in the SEC vs Ripple case, which has brought much-needed regulatory clarity to the digital asset industry in the United States.

Following the ruling, Bitcoin has surpassed the $31,000 mark, signifying a positive development for the leading cryptocurrency. Meanwhile, the altcoin market has exhibited a more optimistic sentiment. The latest crypto price oracles indicate that the TOTAL2 market cap has soared by over 10 percent, reaching approximately $608.7 billion during the early Asian market on Friday.

XRP Takes the Lead

Among the altcoins, XRP has experienced the most significant gains, reaching highs of about 95 cents on select exchanges. Even though the initial frenzy has subsided, the XRP price remains impressive, having surged by approximately 67 percent in the last 24 hours, settling around 78 cents.

Also Read Ripple Vs. SEC Verdict Is Out: Judge Torres Rules in Favor of Ripple

District Judge Analisa Torres’ ruling not only delivered a favorable outcome for Ripple but also set the wheels in motion for the digital asset industry in the United States. The ruling has garnered support from influential figures like US House Majority Whip Tom Emmer, who advocates for its transformation into law, further solidifying the potential positive impact on the industry.

Make Way for Altseason!

Furthermore, altcoins that have been closely scrutinized by the SEC, such as Polygon (MATIC), Cardano (ADA), and Solana (SOL), have witnessed significant gains in the past 24 hours. Polygon has seen an increase of around 18 percent, Cardano has risen by 25 percent, and Solana has experienced an impressive surge of 32 percent.

It is worth noting that Stellar XLM, XRP’s sister digital asset, has also enjoyed a remarkable rally, with its price surging over 57 percent in the past 24 hours, reaching a trading value of approximately 15 cents on Friday.

The conclusion of the SEC vs Ripple case has injected a newfound optimism among investors, leading to a surge in the cryptocurrency market. This positive turn of events signals a promising future for the industry, paving the way for further developments in the United States.