Altcoins cap a winning week after Ripple’s court victory

Altcoins ended the week with a win, while bitcoin fell for a third straight week after a court ruling on Thursday sent cryptocurrency markets sharply higher.

bitcoin The cryptocurrency was down 0.28% for the week at $30,126.40, according to data from Coin Metrics, which measures cryptocurrency prices for the week from the stock market close at 4:00 p.m. ET on Friday until next Friday. Cryptocurrencies are traded 24 hours a day.

The flagship cryptocurrency has been flat for much of the week, unable to hold a key technical level of $31,500 after rising 4 percent on Thursday despite weaker-than-expected inflation reports on Wednesday and Thursday. It gave up most of its gains on Friday.

Ripple’s Ripple The rally was led after a judge in the Southern District of New York ruled that it was a security in some cases but not in others. XRP is up more than 49% this week.bound token Solana Cardano is up about 19% this week Ada up 13%, Polygon’s matic The coin closed 10% higher. ether up 2.5%.

“For Bitcoin, the psychological level of $30,000 has been a reliable support for its price, but it has also struggled to show an undeniably clear breakout over the past few weeks, resulting in range-bound moves,” said Yuya Hasegawa (Yuya Hasekawa) said cryptocurrency market analyst at Japanese bitcoin exchange Bitbank. “It’s hard to understand the fact that the struggle is still going on.”

Most of the big crypto assets posted losses on Friday as investors put the brakes on Thursday’s excitement and weighed what’s next for cryptocurrencies. While the decision was generally seen as positive for Ripple and the cryptocurrency industry, it was not a clear victory.

XRP is down nearly 15%, while matic and ada are down about 7% each.

The order is the latest in a three-year battle between Ripple and the SEC. Some of those findings are likely to be appealed and overturned; the filing even says the court will issue a separate order setting a trial date.