Ripple’s XRP Bucks Crypto Gloom After Latest Court Twist Sparks 8% Jump
- Ripple, SEC in prolonged spat over whether XRP is a security
- Latest court ruling viewed by markets as a boost for Ripple
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XRP, the native token of Ripple Labs Inc.’s blockchain ecosystem, jumped the most in about seven weeks after investors interpreted a court ruling as favorable for the crypto payments company.
The coin rose as much as 8.6% and was trading at about 46 US cents at 12:45 p.m. in Singapore on Wednesday. Wider crypto markets were subdued, with Bitcoin and a gauge of the top 100 digital assets both little changed.