Ripple (XRP) price saw a massive jump of over 60 percent after a US judge ruled that the coin is not “security on its face” in a Securities and Exchange Commission (SEC) case. The crypto-positive ruling boded well for the overall market, as the global cap rose to $1.26 trillion and Bitcoin (BTC) and Ethereum (ETH) managed to rise above the $31,000 and $2,000 marks, respectively. Other popular altcoins — including the likes of Dogecoin (DOGE), Solana (SOL), and Litecoin (LTC) — managed to grow by leaps and bounds as well.
The global crypto market cap stood at $1.26 trillion at the time of writing, registering a 24-hour gain of 6.61 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $31,470.93, registering a 24-hour jump of 3.87 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 26.36 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,010.21 marking a 24-hour gain of 7.73 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.68 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 9.28 percent, as per CoinMarketCap data, currently priced at $0.07082. As per WazirX, Dogecoin price in India stood at Rs 5.96.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 5.04 percent. At the time of writing, it was trading at $101.66. LTC price in India stood at Rs 8,540.24.
Ripple (XRP) Price Today
XRP price stood at $0.7929, seeing a 24-hour jump of 67.81 percent. As per WazirX, Ripple price stood at Rs 66.50.
Solana (SOL) Price Today
Solana price stood at $28.77, marking a 24-hour gain of 33.59 percent. As per WazirX, SOL price in India stood at Rs 2,224.62.
Top Crypto Gainers Today (July 14)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Ripple (XRP)
Price: $0.7722
24-hour gain: 63.59 percent
Stellar (XLM)
Price: $0.1469
24-hour gain: 53.04 percent
Solana (SUN)
Price: $28.34
24-hour gain: 31.04 percent
Lido DAO (LDO)
Price: $2.39
24-hour gain: 27.32 percent
Cardano (ADA)
Price: $0.3592
24-hour gain: 25.26 percent
Top Crypto Losers Today (July 14)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
eCash (XEC)
Price: $0.00003132
24-hour loss: 5.05 percent
ONE BUT LEO (LEO)
Price: $3.90
24-hour loss: 2.91 percent
Bitcoin Cash (BCH)
Price: $275.03
24-hour loss: 2.65 percent
PAX Gold (PAXG)
Price: $1,940.88
24-hour loss: 0.50 percent
Nexus (NEXUS)
Price: $0.63
24-hour loss: 0.22 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Following a favourable federal court decision for Ripple, Bitcoin has witnessed a surge, reaching a one-year high above the $31,700 level. Although BTC has stabilised since then, it is currently trading at the $30,400 level, indicating a 4 percent increase over the past day. The month-to-date performance of Bitcoin has resulted in a 3 percent gain, while the year-to-date increase is an impressive 89 percent. In a remarkable display of strength, XRP has outperformed BTC by surging over 61 percent within the last 24 hours, reaching its highest point in a year. Ethereum, as the second-largest cryptocurrency, has also achieved a significant milestone by surpassing the $2,000 mark. Additionally, the global market cap has experienced substantial growth, rising to $1.26 trillion, reflecting a 6 percent increase over the past day. Overall, the current market sentiment looks bullish.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “These market gains have been triggered by a US court ruling which is partially in favour of Ripple. The court has stated that the trading of XRP (+61.9 percebt) amongst retail investors can’t be dubbed as a “securities” sale. The SEC continues to hold its stance against the ruling and will likely re-appeal, but overall this has set a strong precedence for the sector and has resulted in a massive rally in prices.”
Rajagopal Menon, Vice President, WazirX, offered his take, “Bitcoin surged to $31,328, a 3.2 percent increase in the last 24 hours. It reached $31,700, breaking free from the $30,000-$31,000 range it had been stuck in for three weeks. Ripple’s court ruling provided a temporary boost, affirming the legality of XRP token sales but deeming institutional sales as securities law violations. On WazirX, Ripple (XRP) and Stellar (XLM) have been the top gainers in the last 24 hours.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “On Thursday, XRP token saw a significant increase following a favourable ruling by a judge in the Southern District of New York. The judge said that XRP ‘is not necessarily a security on its face,’ leading to a 71 percent increase in its price to around 80 cents per coin, according to Coin Metrics. The development brought new hope to cryptocurrency investors, who were relieved that other altcoins could be exempted from securities classification. Other altcoins also saw notable gains: Polygon’s matrix token rose 17.82 percent, Litecoin and Solana jumped 18.35 percent, and Cardano’s token rose 20.31 percent. In addition, Bitcoin and Ether gained support and their prices increased by more than 4 percent and 6 percent respectively”
Shivam Thakral, the CEO of BuyUCoin, said, “The remarkable market volume totaled $67.05 billion, representing a significant rise of 119.27 percent over the prior time frame. The decentralised finance industry (DeFi) contributed $3.78 billion to this market, which is a significant 5.63 percent of the 24-hour volume of the entire crypto market. A well-known cryptocurrency called Bitcoin is at present priced at $31,457. Due to its potential impact on the market as a whole, this price point is significant and attracts market participants’ attention.”
CoinDCX Research Team told ABP Live, “The recent CPI announcement revealed that inflation in the United States continues to cool, with the regular CPI reaching 3 percent YoY, slightly lower than the estimated 3.1 percent. Moreover, the Core CPI for June stood at 4.8 percent YoY, below the expected 5 percent. Historically, falling inflation has been seen as a bullish sign for markets, indicating a potential end to the Federal Reserve’s hawkish monetary policy. However, the crypto markets, which had hoped for a boost following the CPI announcement, remain in a consolidation phase.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.