In the last 24 hours, the XRP token from Ripple rose 6.5%. The asset trades near $0.79 (CoinGecko).
The XRP rally began after the court ruling in favor of the fintech company in the Securities and Exchange Commission’s lawsuit on June 13.
The rally in Ripple’s token then pulled the rest of the market. After a correction, XRP continued to rise.
Bitcoin, amid the token’s rise, is trying to hold the $30,000 level. In the second half of Tuesday, July 18, digital gold was trading below the key level. At the time of writing, the cryptocurrency was trading around $30,100.
Over the past 24 hours, all major cryptocurrencies stayed in the ‘green zone’. Market capitalization barely changed and stands at $1.25 trillion, Bitcoin’s dominance at nearly 47%.
according to Cathy Haun, head of Haun Ventures, the court ruling in the Securities and Exchange Commission’s case against Ripple was ‘a good outcome for the industry’.
However, experts noted that the company’s victory proved partial. Former SEC attorney John Reed Stark called the court verdict ‘shaky’.