XRP price is surging again today: Here’s why the cryptocurrency is up

Aug 8, 2025 - 13:52
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XRP price is surging again today: Here’s why the cryptocurrency is up

XRP is the third-largest cryptocurrency by market cap—or the total value of all its coins—which currently stands at just over $196 billion, according to data from Yahoo Finance. For comparison, leading crypto Bitcoin has a market cap of 2.3 trillion and Ethereum, the No. 2 coin, has a market cap of $469 billion.

But over the past 24 hours, XRP has seen its price surge by more than 7.7% as of the time of this writing. Currently, XRP is valued at $3.30 per coin. But why? It likely all comes down to one big thing.

SEC and Ripple agree to drop lawsuits

Yesterday, the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, a company that offers cross-border payment solutions and is also one of the largest holders of XRP, both agreed to drop legal appeals in a court battle that has lasted for years.

As CoinTelegraph reports, the SEC and Ripple submitted a joint petition to the Second Circuit Appeals Court asking the judge to dismiss the cross-appeal from both parties in the ongoing suit.

As previously noted by Reuters, the two entities have been locked in a legal dispute, with the SEC alleging that Ripple had violated securities laws by selling XRP. In 2023, a judge ruled that Ripple’s sale of XRP on public exchanges was legal, but that its sales of the coins to institutional investors were not.

Now that the lawsuit has been settled, CoinTelegraph points out, the ruling from the 2023 judgment stands: Ripple will pay a $125 million fine to the SEC, well below the $2 billion the agency sought.

Announcing the joint filings for dismissal, Ripple’s chief legal officer, Stuart Alderoty, wrote in a post on X, “The end . . . and now back to business.”

In other words, the matter appears to be fully settled, and now Ripple can put its focus back on its business interests, which includes a stablecoin platform it just purchased for $200 million.

Fast Company reached out to Ripple and the SEC for comment.

With the threat of an ongoing lawsuit apparently out of the way—which could have deemed XRP a security, and thus open it to more regulatory oversight—XRP is up significantly in early trading on Friday.

XRP’s wild summer

XRP has seen volatility over the last several weeks. On July 8, the coin was hovering between the $2.29 and $2.42 range, according to Yahoo Finance data. By July 20, it surged to close at over $3.55. But by the beginning of August, it fell to below $2.75 again.

But now with the news of the settlement being digested by investors, XRP is up 7.7% to $3.30 per coin. 

Today’s surge is further representative of a good run for the digital asset over the past year. Since the beginning of 2025, XRP is up more than 59%. And over the past 12 months, the coin is up more than a staggering 438%.

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