The historic decision in the Ripple case has led to a sharp rise in the cryptocurrency market. The leading cryptocurrency Bitcoin (BTC) quickly surpassed a critical resistance level, while Ethereum (ETH) recorded a value increase of over 3%, surpassing the $2,000 price levels.
Yesterday, the groundbreaking decision in the Ripple case regarding XRP, and the recent breaking news in the media that the SEC has accepted to review BlackRock’s Spot Bitcoin ETF application, gave an upward momentum to the cryptocurrency market. The leading cryptocurrency Bitcoin (BTC) managed to surpass critical resistance levels in a short period of time and started trading at $31,300. XRP, which led the rise in the cryptocurrency market, approached the $0.9 price levels significantly with the increases it has registered since yesterday evening.
Most altcoins in the cryptocurrency market have recorded high-value increases in the last 24 hours. The total market capitalization of the cryptocurrency ecosystem, according to CoinMarketCap (CMC) data, has risen from $1.18 trillion to $1.25 trillion within hours.
Recent developments since yesterday have caused a strong upward trend in the cryptocurrency market. Ethereum (ETH) also gained momentum in value increases in the cryptocurrency market due to this upward trend.
ETH, which has been testing the $2,000 resistance level for weeks, has come close to the $1,900 levels many times in the past weeks but has not been able to surpass the critical resistance level and has dropped back to $1,800 price levels. However, with the strong upward trend in the cryptocurrency market, Ethereum (ETH) surpassed the $2,000 price levels, recording a value increase of over 3% in the last 24 hours.