XRP has gained bullish traction after acquiring a major license in Singapore and the rejection of the U.S. Securities and Exchange Commission’s (SEC) appeal. 

XRP is up by 4.9% in the past 24 hours and is trading at $0.53 at the time of writing. The hike comes as the asset’s 24-hour trading volume has risen by 93%, reaching a whopping $1.72 billion. 

The recent surge comes as the U.S. court rejected the SEC’s appeal against Ripple, which started in 2020. U.S. District Judge Analisa Torres stated that the regulator’s request to stay in the lawsuit was denied.

Moreover, the Monetary Authority of Singapore (MAS) has also given In-Principle approval to the U.S.-based blockchain company. Ripple co-founder and CEO Brad Garlinghouse added that Ripple has “secured the full Major Payment Institution license for digital payment token services in Singapore.”

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Author: Wahid Pessarlay

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