08.08.2025 16:56
A significant surge in altcoin prices characterized Friday's cryptocurrency market, with several major tokens experiencing double-digit percentage gains. This rally, described by analysts as a swift shift in market sentiment, was largely attributed to the resolution of regulatory uncertainty surrounding XRP, following the dismissal of appeals in the SEC vs. Ripple case.
The dismissal of the appeals, ending a protracted five-year legal battle, fueled widespread optimism. XRP led the charge, skyrocketing over 10%, reaching $3.32. Simultaneously, Stellar (XLM) and Chainlink (LINK) also saw impressive gains, climbing 14.6% and 14.0% respectively, reaching $0.46 and $19.22. These figures, sourced from CoinGecko, highlight the substantial positive impact of the court decision. The overall global cryptocurrency market capitalization reflected this positive trend, increasing by 1.2% to reach $3.89 trillion.
The positive momentum extended beyond XRP, XLM, and LINK. Other prominent altcoins, including Sui (SUI), Cardano (ADA), Hyperliquid (HYPE), and Solana (SOL), also registered substantial gains, ranging from 7% to 8%. Even Ethereum (ETH), a leading cryptocurrency, participated in the rally, showing a 4.6% increase, reaching $3,892.83. This upward trend is further evidenced by data from Myriad Market, where user confidence in ETH exceeding $4,000 before month's end jumped significantly, from 54% to 85%. (Note: Myriad is a prediction market and engagement platform developed by Dastan, the parent company of an editorially independent Decrypt.)
This market resurgence follows the mutual decision by the SEC and Ripple to drop their appeals. This resulted in a $125 million penalty being transferred to the U.S. Treasury, while the 2023 court ruling remains in effect, distinguishing between institutional and public XRP sales. Analysts believe this outcome, combined with potentially crypto-friendly policies from the current administration, is paving the way for increased institutional investment in digital assets, driving the current market optimism. The resolution of the legal dispute has clearly removed a significant barrier to broader crypto adoption.
