#BTC Dominance Takes a Hit as #XRP Victory Triggers Altcoin Season 👀
The recent dip in Bitcoin market dominance below 50% is attributed to the surge in altcoin prices following Ripple's partial victory against the SEC.
This development has been hailed by the crypto community as the return of "altcoin season." Ripple's XRP token experienced a significant increase of 83%, while other altcoins like Ethereum, Cardano, Solana, Polygon, and Stellar Lumens also saw double-digit gains.
This shift in market dynamics indicates increased interest and investment in alternative cryptocurrencies.
However, the sustainability of this altcoin rally is still uncertain, given that the longer-term perspective indicates range-bound conditions in the crypto markets.
