Ripple XRP Leads Altcoin Market, Leaving Bitcoin Trailing Behind

Vignesh Karunanidhi
Ripple XRP Leads Altcoin Market, Leaving Bitcoin Trailing Behind
Source: Forkast News

A recent decision by a US judge concluded that Ripple XRP should not be classified as a security, bringing an end to the legal dispute between XRP and the SEC. This announcement had a notable impact on the price of XRP, resulting in an immediate 30% increase in its value. Moreover, the positive news also stimulated trading activity for Ripple XRP, with trading volume surging by over 800% following the announcement.

Presently, XRP is being traded at $0.7949, experiencing a surge of over 5.5% in the past 24 hours. However, XRP reached a peak of $0.8875 before stabilizing at its current price. According to data from Kaiko, XRP even surpassed Bitcoin as the most traded cryptocurrency in terms of volume.

Also read: Ripple XRP Claims Top Spot, Outshines Bitcoin in Trading Activity

According to the latest report from Kaiko, there has been a notable surge in altcoin interest recently.

Altcoin interest rising faster than Bitcoin

Kaiko data shows that there has been a surge in altcoin interest that has outpaced Bitcoin. This surge in interest comes after the conclusion of the Ripple v. SEC lawsuit. XRP is leading the altcoin market in terms of weekly gains and is also number two on the trending list on CoinMarketCap.

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The latest data shows that XRP is up by 69.25% in the last seven days, representing one of the highest gains in comparison to altcoins and even Bitcoin.