XRP cryptocurrency jumps as investors hope Ripple will win legal battle with the SEC

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XRP cryptocurrency jumps as investors hope Ripple will win legal battle with the SEC
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XRP, a cryptocurrency closely associated with Ripple, surged over 11% on Wednesday as investors grew hopeful the firm would win its legal battle with the SEC.

cryptocurrency soared on Wednesday as investors grew hopeful that Ripple, a company closely associated with the token, would win its prolonged legal battle with the U.S. Securities and Exchange Commission.

Traders pointed to a supplemental notice submitted by Ripple on Monday which pointed to a ruling in a separate case concerning Binance.US' rescue plan for collapsed crypto lender Voyager Digital. Under the plan, Binance's U.S. unit was to buy all of Voyager's assets, including its native VGX token, in a $1.3 billion deal.

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