After Ripple was recognized as not being a security, Bitcoin and many altcoins have experienced significant growth.
Notably, both BTC and ETH have broken through significant barriers at $31,000 and $2,000, respectively.
Not only the top two market-leading coins, but many other altcoins have also witnessed positive growth.
The market’s explosive response is attributed to the surprising legal ruling in the lawsuit between Ripple and the US Securities and Exchange Commission (SEC). The court declared that Ripple’s XRP is not a security.
Currently, at least two major cryptocurrency exchanges—Coinbase and Gemini—have decided to list or are considering listing XRP following Ripple’s legal victory.
The event is a rare positive news amidst the bearish market in the cryptocurrency industry.