Share this article
XRP Token Surges on Positive Outlook in Ripple vs. SEC Case
The token's price has jumped 20% in the past 24 hours as Ripple defendants heralded a positive view in their case with the U.S. Securities and Exchange Commission.
Updated Mar 8, 2024, 4:51 p.m. Published Mar 22, 2023, 10:44 a.m.
The XRP token surged over 20% in the past 24 hours after reports of its issuer, Ripple, being well-placed to win a landmark case with the U.S. Securities and Exchange emerged on Tuesday.
The SEC sued Ripple in 2020, alleging the firm sold unregistered securities.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
On Wednesday, XRP traded at 45 cents with over $5 billion in trading volume. Over $17 million worth of XRP-tracked futures were liquidated as some traders were likely caught off guard, Coinglass data shows.
Earlier this week, Ripple defendants submitted a new filing in support of their fair notice defense. The filing referenced rulings on SEC objections in the Voyager Digital Holdings bankruptcy case. It noted that in rejecting the SEC's objections, Judge Michael Wiles of the U.S. Bankruptcy Court for the Southern District of New York endorsed many of the arguments that Ripple defendants have presented.
Ripple (finally) filed the Voyage bankruptcy Judge's decision.
— Jeremy Hogan (@attorneyjeremy1) March 20, 2023
The Judge uses abnormally strong language, stating that the U.S. regulators themselves cannot even agree on what criteria to use in deciding whether crypto is a security (Fair Notice).
...
We are getting close... https://t.co/zvLQ5zEWUV pic.twitter.com/0nCSMVuG0C
Traders likely reacted to rumors of the case already being settled on paper, some market observers said.
“We’re seeing the XRP price jump by double digits and rally above its long-held resistance levels, as rumors filter through that Ripple and the SEC have possibly agreed to a settlement,” Henry Liu, CEO of crypto trading platform BTSE, wrote in a Telegram message to CoinDesk.
“At the same time, others are speculating that Ripple could even emerge victorious from the court battle. Regardless of which faction is correct, the presumed resolution of the case in Ripple’s favor is driving this positive momentum,” Liu added.
Ripple has historically maintained a distance from its relation to XRP, the token that powers some of Ripple’s products and the XRP Ledger network. Any progression in the case causes XRP price movement, however.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
U.S. Interest Rates, Do Kwon Sentencing: Crypto Week Ahead
Your look at what's coming in the week starting Dec. 8.
What to know:
You are reading Crypto Week Ahead: a comprehensive list of what's coming up in the world of cryptocurrencies and blockchain in the coming days, as well as the major macroeconomic events that will influence digital asset markets. For an updated daily email reminder of what's expected, click here to sign up for Crypto Daybook Americas. You won't want to start your day without it.
Top Stories
