XRP is leading market gainers after surging 17% as the long-running feud between Ripples Labs and the U.S. Securities and Exchange Commission (SEC) reached a conclusion.
Ripple was ordered by a federal judge to pay $125 million in civil penalties and imposed an injunction against future securities law violations, signaling the end of the case.
However, the SEC is expected to appeal the ruling – likely extending legal matters.
The crypto market positively reacted to the news of Ripple’s settlement; prices of XRP zoomed to 65 cents from 50 cents after the ruling, with trading volumes jumping to $4.2 billion in the past 24 hours.
Also, open interest—or the number of unsettled futures contracts—on XRP-tracked futures rose by $200 million in the wake of the ruling, indicative of new money entering the market.
Leading the crypto market alongside XRP is Toncoin (TON) which jumped nearly 6% to $6.33 after Binance announced it will list TON on its marketplace.
Bitcoin (BTC), Solana’s SOL, and BNB Chain’s BNB were unchanged in the past 24 hours, data shows, while ether (ETH) dropped 3.4%, per data from CoinDesk.
