The crypto market is celebrating a victory in the battle against regulators.
(Photo: Reuters)
New York, Dusseldorf So-called altcoins are in demand again on the crypto market. These are digital currencies apart from the big cyber currencies Bitcoin and Ethereum. Tokens like Ripple (XRP), Solana (SOL) and Cardano (ADA) have been up well into double digits since Thursday. At times, XRP gained up to 95 percent. Solana skyrocketed by around 25 percent. The last time there were similarly strong price movements in this segment was in 2021, at the height of the crypto hype.
The trigger for the current rally is a court decision in the USA. A district judge awarded the crypto company Ripple, which issues the token XRP, partial success in its legal battle against the US Securities and Exchange Commission.
Ripple and the SEC have been at odds in court for years. The core question is whether the XRP token is a security and has therefore violated existing securities laws.
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