XRP is the third-largest cryptocurrency by market cap—or the total value of all its coins—which currently stands at just over $196 billion, according to data from Yahoo Finance. For comparison, leading crypto Bitcoin has a market cap of 2.3 trillion and Ethereum, the No. 2 coin, has a market cap of $469 billion.

But over the past 24 hours, XRP has seen its price surge by more than 7.7% as of the time of this writing. Currently, XRP is valued at $3.30 per coin. But why? It likely all comes down to one big thing.

SEC and Ripple agree to drop lawsuits

Yesterday, the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, a company that offers cross-border payment solutions and is also one of the largest holders of XRP, both agreed to drop legal appeals in a court battle that has las

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