In a surprise victory in court, XRP has been declared “not a security.” The win immediately resulted in an abrupt change in sentiment surrounding altcoins.
Although the ruling only impacted the Ripple case outcome, it could have a lasting influence on the rest of the space, and spark a sudden altcoin season seemingly out of nowhere. Here’s how.
XRP Wins Case, Revives Crypto Market With 100% Intraday Move
As of yesterday and all throughout 2023, if you had suggested it was an altcoin season you would have been very wrong, and potentially stuck holding some heavy bags. Cryptocurrencies not named Bitcoin have suffered from increased regulatory uncertainty, thin order books, awful macroeconomic conditions, and the worst sentiment in years.
Many altcoins remain more than 90% down from their all-time high prices set in 2021. Others, like XRP still haven’t set a new high since 2017. But after a 100% rally in a single day, the cryptocurrency entangled in a several year long court case
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