XRP Surges 14% as Market Anticipates Favorable Resolution to Ripple's SEC Lawsuit

XRP has surged 14% on Thursday, significantly outpacing Bitcoin, which saw a mere 0.8% increase. This remarkable rise in value is indicative of the growing interest from retail investors

Cryptocurrency XRP surged on Thursday, outpacing Bitcoin and attracting growing interest from retail investors, as indicated by Google Trends data.

The token rose 14% to $3.35, approaching its all-time high of $3.40 set in 2018. Its market value reached $192 billion.

Several factors contributed to the bullish sentiment around XRP, including speculation that Ripple's legal battle with the U.S. Securities and Exchange Commission (SEC) might be nearing a favourable conclusion.

Despite the SEC's recent appeal of a court ruling that favoured Ripple, the market remained largely unfazed.

"It's just noise," Stuart Alderoty, Ripple's chief legal officer, said of the ongoing litigation, to Axios.

suggesting that investors were optimistic about the potential for a new, more crypto-friendly SEC under President-elect Donald Trump.

Anticipation is building for Trump's administration, with many crypto supporters hoping for a shift in regulatory attitudes that could benefit Ripple and other cryptocurrency firms.

"We're hopeful that the new administration will take a fresh look at crypto regulation," a source close to Ripple told Axios.

With the SEC's current chair, Gary Gensler, widely expected to be replaced, Axios reported that insiders believe the new appointee, Paul Atkins, may adopt a softer approach, further encouraging investor confidence.

As XRP continues to gain traction, there is speculation about the potential launch of an XRP exchange-traded fund (ETF), following the success of Bitcoin and Ethereum ETFs, which attracted substantial investments in 2024.