Cryptocurrency investors have been bullish on the possibility that Ripple could get a win in its legal battle against the United States Securities and Exchange Commission (SEC). This has resulted in a massive increase in open interest in XRP perpetual futures of nearly $400 million over the past seven days, according to data from the crypto analytics platform Kaiko.The development has caused many to think that a highly anticipated 'alt season' may be upon us, in which alternative digital assets such as XRP, Solana (SOL), Polkadot (DOT), and gaming tokens, outperform Bitcoin (BTC) and Ethereum (ETH). The highest volume is said to be on Binance, though the exchange is facing a lawsuit from the Commodity Futures Trading Commission (CFTC).

At press time, XRP was trading at around $0.53 and had declined by nearly 3% in the last 24 hours. Despite this, XRP had experienced a week-on-week surge of more than 19%, with an incredible 41.10% growth registered in the last 30 days. This was likely aided by the cryptocurrency’s newfound social dominance after it surpassed the $0.49 mark, along with the machine learning algorithms that are predicting the crypto asset to continue accumulating strength despite the initial downturn caused by Jim Cramer’s comments on the Ripple-SEC case.

Overall, it is clear that the crypto community is keen to see Ripple to get a win in its legal battle with the SEC and that XRP may have a bright future if the company can do so. However, it is important for investors considering investing in any crypto asset to be aware of the inherent risks that come with investing in a speculative asset class, and to make sure they do their due diligence before making any investments.



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