The post How Altcoins Will React Will Ripple Triumphs in the Ongoing Case appeared first on Coinpedia Fintech News
Renowned economist Alex Krüger is focusing on the upcoming Ripple-SEC lawsuit ruling and its effects on the cryptocurrency market. The more than two-year-old legal dispute is expected to end very soon and the community cannot keep calm. There will likely be rippling effects on the digital asset industry as the entire sector waits to see how the whole scenario might play out.
A lot of people, analysts, and traders have been observing how the conclusion would affect XRP, and some have even started planning for a possible cryptocurrency rally. However, Alex talked specifically about the potential for an “alt season” to start if Ripple wins. A cryptocurrency boom can be caused by a number of factors, albeit the exact reason is difficult to determine.
“Ripple winning over the SEC would translate into alt season, so follow that closely even if not long “The Standard,” he said on Twitter.
“Alt season” is a time when the prices of altcoins significantly rise and outperform Bitcoin. A strong trend in the top 20 biggest cryptocurrencies, in particular, analysts say, could kick off a larger altcoin season.
XRP’s Security Status
David Schwartz, CTO of Ripple, has alternatively offered his opinion on XRP’s security status. He spoke about the possible effects that the status might have on the case. According to Schwartz, XRP ceased to be a security when “people no longer had to rely on Ripple to maintain the ledger,” as he explained on Twitter.
The SEC complaint revolves around the issue of XRP’s security status. It also calls for observation of the extent of Ripple’s influence over the XRP ledger and what such control would entail. Schwartz pointed out that Ripple did not feel compelled to take any action to keep the ledger up to date. Yet, the actions were done to make things more convenient for users.