Ripple-affiliated cryptocurrency XRP has surpassed Cardano and Solana, becoming the sixth-biggest cryptocurrency by market capitalization, according to CoinMarektCap.
The cryptocurrency is up 20% over the past 24 hours, greatly outperforming other major cryptocurrencies.
XRP is up 5% this year despite the recent market sell-off and the uncertainly surrounding Ripple’s legal battle with the U.S. Securities and Exchange Commission.
Fox Business’s Charles Gasparino recently tweeted that the case was likely to stretch well into summer. He added that the release of the Biden administration’s executive order for cryptocurrencies could tip the balance in the SEC’s favor by “possibly” classifying the controversial token as an unregistered security.
As reported by U.Today, the expert discovery phase was recently extended to Feb. 28 upon the request of both parties. The delay has made it possible to conduct additional depositions.