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$XRP tokens experienced a surge of about 15% in the past 24 hours, following reports of Ripple's could win in its landmark case against the U.S. Securities and Exchange Commission (SEC).
According to Coindesk, some market observers opined the surge may have been prompted by rumors of the case already being settled on paper.
Earlier this week, Ripple defendants filed a new motion in support of their fair notice defense. The filing cited rulings on SEC objections in the Voyager Digital Holdings bankruptcy case, which endorsed many of the arguments presented by the Ripple defendants. The development has increased speculation that Ripple could emerge victorious from the court battle.
Henry Liu, CEO of BTSE, commented on the situation:
"We're seeing the $XRP price jump by double digits and rally above its long-held resistance levels, as rumors filter through that Ripple and the SEC have possibly agreed to a settlement," Liu said. "Regardless of which faction is correct, the presumed resolution of the case in Ripple's favor is driving this positive momentum."
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