🥳 Crypto hamsters celebrating a glorious victory

Hi there! Yesterday, an event that no one expected happened: XRP took off. So congratulations to HODLers, you have been waiting! However, this event led to a series of chain reactions. Pleasant for longists and not so pleasant for shortists. In any case, the market has revived, which is a plus. Maybe the alt-season is coming soon? Delve into this topic together with us, the buidlbee crypto community team. Here's what's coming next in the letter:

• Ripple: victory over the SEC, but no precedent yet;

• What else can you capitalize on if you were late to the XRP rally?

• How to claim a free NFT by Sismo;

• Bullish scenario for XRP (technical analysis).

And here are the top stories of the day:

• Major cryptocurrency exchanges Coinbase, Kraken, Binance US, and Gemini will relist XRP amid a partial victory for Ripple Labs in a legal battle with the SEC. Over the day, the token's rate rose by more than 67%. XRP volumes surge 18-fold, and capitalization doubled. However, the SEC can still appeal the court's ruling in favor of Ripple Labs.

• For the first time this year, BTC rose above $31,700. Due to the volatility, about 86k traders were liquidated, and $307 million worth of positions were liquidated.

• Indonesia plans to launch a national cryptocurrency exchange by the end of July.

• Multichain platform CEO Zhao Jun was arrested in China, and the platform ceases operations.

Everything you need to know about Ripple's victory

After the court's acquittal ruling, the XRP exchange rate rose by 66% overnight, and the asset also climbed to 4th place in cryptocurrency market capitalization. Bitcoin rose above $31k, and Ethereum broke through the psychological level of $2k at one point.

And while the ruling in court on XRP has caused euphoria in the crypto market, it's definitely not a final victory just yet. Ripple Labs' triumph in court against the SEC is seen as a significant blow to the regulator's "war" on crypto, but crypto lawyers warn that it's not a certain final victory for the industry.

Here are some drowning details that got lost in the noise of the victory:

• Law firm partner Stephen Palley of Brown Rudnick noted that the summary judgment is only "partial" and that Judge Torres' ruling does not set a precedent; instead, it can only serve as a persuasive commentary for future courts to follow if they so choose.

• Furthermore, the court's decision separately notes that token sales via SAFT, OTC, private rounds, ICOs, and launchpads are still considered illegal. This means that Ripple Labs can still be sued for institutional and OTC sales of XRP, which they have also done previously. This point in the court's conclusion is potentially very dangerous, while the market ignores it, celebrating acquittal on the main point of the dispute.

• Palley and others noted that there is also the possibility that the SEC could appeal the decision, raising the possibility that a higher court would overturn the groundbreaking ruling made by Judge Torres. The SEC has so far said it is studying the court's decision closely.

• Coinbase, Kraken, Gemini, Crypto․com, Bitstamp, and a number of other crypto exchanges will relist XRP after the court ruling on Ripple. With the appeal issue still open, experts say this is a hasty decision on the part of crypto exchanges.

💲 Ideas

[1] 🔔 Ripple's victory as a catalyst for the start of the alt season

After the historic decision on Ripple, it's a good time to ask an important question: who is also affected by this decision in a similar way? More recently, the SEC also accused a number of top altcoins of similar sins to XRP — allegedly being securities. However, the SEC did not sue them, but it led to the collapse of the market for these altcoins, and some exchanges rushed to delist them. And now what?

Solana, on the news of Ripple's victory, rose disproportionately high by 25%, and Cardano by 21%. Not bad? It's probably time to review the top altcoins for their toxicity because the Ripple decision is potentially a game changer for them too. So if you're too late to bet on XRP, there's still an opportunity to bet on the following favorites.

Notice how Bitcoin's dominance has plummeted after the news of XRP's win; it could be a serious claim to start the altcoin season. Let's wait for the recalculation of the altcoin index in the coming days, but in the meantime, we advise you to think hard this weekend about a group of previously "cursed" by the SEC altcoins.

[2] 🔔 Bullish XRP?

The SEC's legal battle against Ripple, which began in 2020, ended in a victory for the latter. The court said XRP is not a security but a digital currency. This decision is a major victory for Ripple and the cryptocurrency industry as a whole. It could have far-reaching implications for cryptocurrency regulation in the US.

According to CryptoCheck's technical analysis, the token could reach the $1 mark within a few days. Then there may be consolidation at $0.89, after which XRP will be ready to rise to $1.30.

[3] 🔔 Free NFT by Sismo

The Sismo project enables users to aggregate their identities and selectively disclose personal data to apps. On September 1, the protocol will no longer support ZK badges and will switch to the ZKP (zero-knowledge proof) format. The new tool will be called Sismo Connect.

Outdated badges will no longer be available. During the life of the protocol, there have been over 65,000 unique users who have minted 160,000 ZK badges.

For early users, Sismo has released the Sismo Early Community NFT, which validates early participation in the project. A total of 77,431 addresses qualify for the mint condition. Follow the link below, log in, and mint the NFT (on any of the available networks):

• The link to the mint page;

• Requirement: Sismo Early Community member.

Believing and waiting that altcoin season is finally upon us! To the moon!!! 🚀🌕