XRP has won a court case and been declared "not a security," leading to a sudden change in sentiment towards altcoins. While the ruling only applies to the Ripple case, it could have a lasting impact on the rest of the cryptocurrency space and potentially spark an altcoin season.

Altcoins have been struggling due to regulatory uncertainty, poor macroeconomic conditions, and low liquidity, with many still down from their all-time highs.

However, XRP's 100% intraday move has caused a dent in Bitcoin dominance and could potentially lead to altcoins outperforming Bitcoin in the coming months.