Crypto wrap: US Federal Court’s ruling on Ripple leads to surge in market

On the back of the decision by a court in the US that Ripple Labs did not violate federal securities law by selling its XRP token on public exchanges, the crypto market surged after a muted week.

According to data available on CoinMarketCap.com, Bitcoin was up 3.62 per cent and was trading at $31,220 on Friday. But much of this surge came after Thursday when the ruling was announced. Till then, it was trading around $30,200.

As of Friday, the total market capitalisation of the crypto market was $1.25 trillion, up nearly 5 per cent in the last 24 hours.