Ripple landed a historic partial win against US financial regulator, Securities and Exchange Commission (SEC). The outcome of the SEC vs. Ripple lawsuit ensured that the community of XRP holders is in the safe zone, with regards to their trades across exchange platforms. The recent proceedings in the SEC vs. Terraform Labs case raised questions on the SEC vs. Ripple victory.
Due to the developments over the last 24 hours, XRP price could easily drop and undo last month’s gains if the Securities & Exchange Commission (SEC) decides to appeal the ruling in Ripple’s lawsuit. In the event that the SEC appeals Judge Analisa Torres’ decision on the XRP token, its holders could be in trouble. XRP price is down 28% from the SEC vs. Ripple lawsuit decision-based rally that propelled it by 100% to $0.965 on July 13.
Alt season, the period of time marked by capital and profit rotation from Bitcoin to altcoins, has ended alongside July. Entering August, Bitcoin dominance is still on a decline, but altcoins among the top 50 assets have failed to outperform BTC.
MakerDAO (MKR) and Compound (COMP), two blue chip DeFi tokens, emerged as outliers, driving the DeFi Blue-Chips Index 39.7% higher between June and the time of writing. Based on the alt season tracker from Blockchaincenter.net, it is now officially Bitcoin season. The index reads 27 on a scale of 0 to 100.
Litecoin (LTC) is ready to undergo the third halving event, which will reduce its block rewards from 12.5 LTC to 6.25 LTC. Taking a closer look at Litecoin price a month before the halving reveals an interesting outlook that could predict the fate of LTC holders.
While the pre-halving rally is noticeable not just in a low market capitalization altcoin like Litecoin, it is more pronounced in Bitcoin. Interestingly enough, Litecoin price action forms a local top roughly a month before the halving event. One can speculate that this could be traders who capitalized on the pre-halving rally cashing in their profits.
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