An appeal could then cause the value of XRP to dip again as the previous market anxieties could return.
In a significant upswing, the cryptocurrency market saw a 5.5% surge in its market capitalization, reaching $1.25 trillion within the last 24 hours.
High net worth investors have remained steadfast in their confidence in cryptocurrencies, as the market continues its robust performance in the first half of 2023, according to a survey conducted by deVere Group.
Bitcoin's year-to-date rally to 85% is looking increasingly stretched as the market has likely fully absorbed a great deal of the good news related to the ETF filings underway in the United States.
According to Alex Kuptsikevich, senior market analyst at FxPro, Bitcoin's recent surge necessitates a cooling-off period after showcasing its growth potential. The overall capitalization of the cryptocurrency market reached $1.184 trillion, marking a 10.8% increase over the week, as reported by CoinMarketCap.