Ripple's ruling sparked anticipation of an altcoin surge, but recent data shows minimal impact. SEC actions, market trends, and XRP's twists shape a complex altcoin landscape.
, alleging several violations, such as unregistered token offerings and sales and operating without proper registration as an exchange or broker-dealer.in the category of securities within the ongoing lawsuits against these exchanges. This expansion of securities classification encompassed approximately 67 cryptocurrencies. The ongoing regulatory developments and challenges stemming from these actions could certainly be contributing to the subdued enthusiasm surrounding altcoin trade volume.
Furthermore, the broader market has endured an extended period of bearish sentiment, marked by declining prices. This trend has been especially evident in the price trajectory of XRP.trading volume, which was evident from the volume chart provided by Santiment. The volume experienced a notable spike, exceeding 5 billion and later surging past 23 billion at a certain point.
While a few other altcoins also witnessed increased trading volume, the overall impact on altcoin volume remained limited. Nevertheless, the chart indicated that the trading volume has returned to its typical range. At the time of writing, the volume had stabilized around 1.1 billion.Furthermore, the price trend on the daily timeframe chart revealed that XRP had retraced back to its pre-ruling level. As of this writing, it was trading at approximately $0.52, exhibiting a minor decline in value.
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