Ripple’s recent win against the U.S. Securities and Exchange Commission (SEC) has breathed new life into the altcoin market, particularly Ripple’s sibling token Stellar Lumens (XLM), Polygon (MATIC), and Solana (SOL). These altcoins had been facing severe price dips, partly due to concerns about their classification as securities. However, Ripple’s victory seems to have turned the tides. Let’s delve into what happened with XLM, MATIC, and SOL and assess whether they present lucrative buying opportunities before a potential price surge.
#1 Stellar Lumens: XLM Price Analysis
Stellar Lumens (XLM) had been grappling with a price stagnation, hovering around the support level of 10 cents. However, Ripple’s court win injected a much-needed boost into XLM’s market performance, with prices surging to 11.3 cents. Historically, XLM and XRP prices have been intertwined, with Stellar often emulating Ripple’s market trends. Thus, the recent surge in XRP has naturally propelled XLM prices upward.
#2 Polygon MATIC Price Analysis
Polygon’s native token, MATIC, faced a severe blow after the SEC labeled it as a security, leading to its delisting on several exchanges. However, the recent launch of Polygon’s updated blockchain and a new token, POL, stirred enthusiasm within the crypto community. Combined with the optimism stemming from Ripple’s legal victory, MATIC prices managed to climb from $0.70 to $0.80. This upward trend indicates renewed hopes of a possible win for MATIC in its legal battles.
#3 Solana SOL Price Analysis
Solana (SOL) felt the SEC’s regulatory hammer just as other altcoins did. Prices plummeted, hitting a low of $15. Yet, SOL’s resilient nature became apparent as it embarked on an upward trajectory. Ripple’s recent win further fueled SOL’s market momentum, resulting in a price surge from $22 to $26. This indicates renewed hope for Solana’s future, prompting investors to reconsider its potential.
