July has been quite a rollercoaster ride for the crypto markets. Several major projects surpassed their resistance levels, albeit for a brief moment before falling back. The July rally is attributed to the historic ruling by a US court that XRP does not constitute a security. However, the gains were short-lived as major currencies have fallen back to pre-ruling levels.
With that being said, let’s take a look at the top-performing crypto in July.
Top Crypto Projects in July
XRP
After the US Court ruling that XRP is not a security, contrary to the SEC’s (Securities and Exchange Commission) claims, the token’s price skyrocketed by 72.34%. Ripple, the firm that utilizes the XRP Ledger has claimed a partial victory in its 2.5-year-long legal battle with the financial regulator.
Consequently, major exchanges began re-listing the crypto on their platforms. XRP now has regained access to a lot more customers, which could further propel its price to new highs. Many have predicted that XRP could reclaim its spot among the top-3 cryptos by market cap very soon.
Also Read: XRP: Analyst Predicts You Can Become a Millionaire with 500 Tokens
At press time, XRP was trading at $0.711380, down by 0.7% in the last 24 hours.
Bitcoin (BTC)
Bitcoin (BTC), the original cryptocurrency, briefly surpassed the $31k mark, riding the XRP wave. However, the rally was short-lived as the asset has since fallen back to $29k levels. However, being the biggest player in the crypto space, BTC often leads the way in the market. The current slump could be attributed to the increase in interest rate hikes, however, many expect the currency to regain traction in the coming weeks.
At press time, BTC was trading at $29,274.06, down by 0.7% in the last 24 hours.
Dogecoin (DOGE)
Dogecoin (DOGE) began to rally after Twitter officially made its transition to X. Elon Musk, the owner of the social media platform, is a big-time DOGE supporter and has expressed interest to integrate the token into the platform’s payment feature. However, we do not have a definitive date or confirmation about the development. However, that has not stopped DOGE supporters and investors from buying the popular dog-themed crypto.
Also Read: Dogecoin OI Surpasses $500 Million: Eclipses Cardano’s M.Cap
DOGE is currently the best-performing crypto among the top 10 projects in the weekly time frame. At press time DOGE was trading at $0.076701, up by 6.4% over the last week. However, the token has fallen by 3.2% in the last 24 hours.
