Yesterday’s historic decision in the Ripple lawsuit has led to a strong rally in XRP. Along with the strong upward momentum in the cryptocurrency market, XRP has led the market’s surge. Meanwhile, following the recorded gains, XRP surpassed BNB in terms of market capitalization and became the fourth largest cryptocurrency in terms of market value in the crypto ecosystem.
Impressive Surge in the Cryptocurrency Market
After the judge in the Ripple lawsuit ruled that the sales of XRP by Ripple did not constitute investment contracts, XRP initiated a strong rally. With the increase in value in XRP and the historic decision in the Ripple lawsuit, the cryptocurrency market has once again entered a period of growth. The leading cryptocurrency Bitcoin (BTC) managed to surpass the critical resistance level it has been testing for weeks and started trading at price levels of $31,200.
According to CoinMarketCap (CMC) data, the total market capitalization of the cryptocurrency ecosystem reached $1.25 trillion, showing an increase of nearly 5% in the last 24 hours. Most altcoins in the cryptocurrency market have experienced upward momentum since yesterday evening and have recorded significant increases in value.
XRP Leads the Market Surge
Initiating a strong rally yesterday evening, XRP started trading at $0.77 at the time of writing, but approached $0.9 in the evening. With these value increases, XRP became the cryptocurrency with the highest percentage increase among high market value cryptocurrencies in the last 24 hours. Additionally, following the court decision, numerous cryptocurrency exchanges, including Coinbase, the largest US-based cryptocurrency exchange, which had delisted XRP in the past, have started relisting XRP.
Furthermore, XRP has made significant progress in terms of market capitalization following these surges. According to the latest data from CMC, XRP surpassed BNB in terms of market capitalization and became the fourth largest cryptocurrency in the crypto ecosystem.
