Bitcoin price reveals a bullish outlook as markets start a fresh week. This development has caused many altcoins, including Ethereum and Ripple, to rally slightly. As BTC cools down, the capital is likely to rotate to other coins. However, a sudden reversal could undo the gains for the altcoins as well.
Ethereum price has rallied 102% in the last 33 days, and one can attribute this to the upcoming software upgrade — the Merge. This update will shift the ETH blockchain from an energy-intensive Proof-of-Work (PoW) to an environment-friendly Proof-of-Stake (PoS).
In the SEC v. Ripple case, the payment giant is set to serve subpoenas and authenticate videos of SEC officials’ public remarks. This evidence could make or break Ripple’s defense against the SEC. Proponents have identified a potential breakout in XRP.
