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Open Interest in XRP Surges to $800M as Crypto Traders Hope Ripple-SEC Verdict Will Bring 'Alt Season'

The open interest in XRP, the cryptocurrency associated with Ripple, has surged to $800 million as crypto traders hope that a favorable verdict in Ripple's ongoing legal battle with the US Securities and Exchange Commission (SEC) could trigger an "alt season."

An alt season refers to a period of time when alternative cryptocurrencies, or "altcoins," experience strong growth and outperform Bitcoin, the largest cryptocurrency by market capitalization. Alt seasons are often driven by a combination of market sentiment, technological developments, and regulatory and legal developments in the industry.

The ongoing legal battle between Ripple and the SEC has been closely watched by the cryptocurrency industry, as it could have significant implications for the regulatory treatment of cryptocurrencies and other digital assets in the United States and around the world.

(By Omkar Godbole)

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