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

A visual representation of the digital cryptocurrency, XRP.

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The XRP 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.

The token was worth around 45 cents at about 8 a.m. ET, according to data from CoinGecko, up over 11% in the last 24 hours. It was earlier trading up as much as 20%.

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.

The SEC…

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