There has been a big stir in the market after the US court rejected Ripple as a security. But, the effect of Ripple case on bitcoin and ethereum is a different expression.
Short-term Effect
Focusing on the price action of bitcoin and ethereum, the normal price levels for bitcoin and ethereum are currently around 30k and around 1.8–9k, respectively. Bitcoin reached 31k and Ethereum 2k for a day after the decision in the Ripple case, but at that point the growth cooled off.
Impact Of Market Behavior
The Ripple case undermined the SEC's arbitrariness, with many other security-declared tokens also jumping up after this decision. During this time, it is clear from the phenomenon of an increase in the price level of bitcoin and ethereum that market behavior will affect bitcoin and ethereum too.
Main Hold On The Market
Bitcoin and Ethereum are the main determinants of the crypto market; their values will not be affected much by other tokens. Also, any effective decision taken in one area will not affect this borderless currency much. Bitcoin and Ethereum will behave on their own.
