XRP, the cryptocurrency created by Ripple, is surging on rumors surrounding the outcome of its long-running legal fight with the Securities and Exchange Commission.
The crypto is up 10% in the past 24 hours, according to Messari, trading at a five-month-high of $0.5. XRP has jumped 46% in the past month.
The price surge follows news involving another top financial regulator, the US Commodity Futures Trading Commission, which filed a lawsuit against crypto exchange Binance and its founder Change.
Rumors have been circulating recently that suggest the Ripple company, who created the XRP token, might win their lawsuit against the SEC. The SEC has alleged that XRP was sold as an unlicensed security, but Ripple has a good chance of winning according to some lawyers close to the case. If they do win, the price of XRP is sure to surge.
Havryliuk added:
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