thecryptobasic.com
Ripple’s win over the SEC triggers a market-wide recovery in the cryptocurrency scene, with Cardano (ADA), Solana (SOL), Stellar (XLM), and XRP recording double-digit gains over 24 hours.
After several weeks of staying flat, the crypto market saw increased activity following the Thursday court ruling that XRP is not a security. While this development primarily benefits San Francisco-headquartered Ripple company and the XRP Ledger native token, Cardano founder Charles Hoskinson stated it further bodes well for the overall crypto market.
Notably, investor interest in crypto assets has increased substantially within the last 24 hours, as seen in the rising trade volumes on different exchanges and the growing market capitalizations of individual cryptocurrencies. Consequently, the global crypto market cap has risen by over 5% over the last day to eclipse $1.25 trillion per Coinmarketcap data.
Top Performing Altcoins
Among the top altcoins, which have recorded increased accumulation and double-digit gains in the last 24 hours, include XRP, Cardano (ADA), Solana (SOL), and Stellar (XLM), amongst others.
XRP Up Over 66%
XRP leads the complete shift of market momentum after XRP wins against SEC, becoming the only altcoin in the US with regulatory clarity. XRP is up 66% in 24 hours, surpassing BNB to become 4th top crypto with a 64% increase in market cap in a day. The current market cap of XRP stands at $40.7B. XRP 24H volume is $14B, up 1964% in a day.
ADA and SOL Up Over 20%
Despite being tagged securities by the U.S. SEC in its 13-charge lawsuit against Binance in early June, ADA and SOL stunned the crypto scene with their impressive price rallies. Amid the recent bullish wave in the crypto market, ADA price has appreciated by over 21% over the last day, moving from a low of $0.2887 on Thursday to hit $0.3509 on Friday at press time. It bears noting that over 4.33 billion ADA tokens have been traded over the last day, as the project boasts a market cap of over $12.2 billion at the time of writing.
Solana’s native token SOL followed suit, surging by an astounding 24.74% within 24 hours to clinch the $28 price territory today. Notably, SOL was changing hands below the $20 mark in the early hours of Thursday. With XRP classified as non-security, investors speculate the same outcome for SOL and ADA as both share similarities with the XRPL native currency.
XLM Sees Over 55% Price Increase
Another altcoin that has been trending lately in the crypto market is Stellar. Data on Coinmarketcap shows that XLM has rallied by over 55% in the last 24 hours. The asset changing hands at $0.15 at press time reached a high of $0.1795 on Thursday. However, XLM traded around $0.96 in the early hours of yesterday.
Amid these stunning price rallies staged by ADA, SOL and XLM, amongst other altcoins, XRP leads the crypto market with an increase of over 66% over the last day. At press time, the 4th-largest crypto in the world is changing hands at $0.791, with several analysts predicting a higher surge.