XRPthe native token of the Ripple protocol, is up almost 4% in the last 24 hours, trading at $0.528 at the time of writing.
This is despite XRP’s slight pullback from the recent high of $0.545 set last night, according to data from CoinGecko watch.
This makes the crypto industry’s fifth-largest asset by market capitalization the best-performing asset among the top 50 cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH) posting daily losses of 0.5% and 1.3%, respectively.
XRP is also up 6.2% for the week, with the latest price rise spurred by news from a federal judge. in decline the U.S. Securities and Exchange Commission’s (SEC) attempt to appeal its earlier decision regarding Ripple Labs.
In her July 13 ruling, U.S. District Judge Analisa Torres in Manhattan concluded that the sale of the digital token XRP on public exchanges did not constitute an illegally unregistered securities offering because the buyers did not have a reasonable expectation of profit based on Ripple’s actions, according to the judge’s ruling.
Adding to the positive momentum, Ripple announcement On Wednesday, its Singapore subsidiary obtained a full payments license to operate in the city-state.
The license, granted by the Monetary Authority of Singapore (MAS), will allow Ripple Markets APAC to continue providing regulated digital payment token services in Singapore.
The company added that it will continue to prioritize the Asia-Pacific region for the adoption of its crypto payment solutions.
Elsewhere on the market, avalanche (AVAX) is up 3.3% on the day, followed by Polygon (MATIC) and TRON (TRX) – up 1.7% and 1.3%, respectively.
Solana (GROUND) and Cardano (ADA), however, are down 3% and 2.9% respectively over this period.
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