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The blockchain and crypto landscape are abuzz with anticipation as XRP, the digital asset tethered to Ripple, stands on the precipice of what could be an exhilarating rally in the forthcoming altcoin season. "Negentropic," the founder of Glassnode, shared a pivotal insight into the prevailing market dynamics, shedding light on the evolving narrative.
This market observer draws attention to a striking trend that has previously unfurled in the crypto realm. XRP, Ethereum, and a myriad of altcoins have embarked on remarkable rallies, marching in tandem with Bitcoin. This synchronicity was accentuated when Grayscale, a prominent digital asset management firm, secured a significant victory in its legal battle against the United States Securities and Exchange Commission (SEC).
As the summer bids adieu, XRP exhibited an impressive surge, ascending to $0.549 on August 29 before a momentary retreat. The last day of August witnessed profit-taking, characterized as a "rally for summer closing" by the Glassnode founder. He aptly points out that within this fervor, the most vital altcoin signal has transitioned to Bitcoin dominance.
https://btcnews.biz/cryptocurrencies/...ally-as-altcoin-season-looms/
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