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The XRP token surged by up to 5% within the last 24 hours following news indicating a favorable tilt towards Ripple in the landmark case brought by the U.S. Securities and Exchange Commission (SEC).

As of the time of writing, XRP was experiencing a 2% increase in trading, reaching 46 cents and marking its second consecutive day of gains. In contrast, both bitcoin (BTC) and ether (ETH) witnessed a 1% decline, contributing to a slight downturn across the wider cryptocurrency market.

The XRP token has demonstrated remarkable growth over the past week, with its value surging by nearly 10%, positioning it as the leading gainer among prominent digital assets.

In 2020, the SEC filed a lawsuit against Ripple, accusing the company of selling unregistered securities. Throughout its history, Ripple has kept a clear separation from XRP, the cryptocurrency that drives its products and the XRP Ledger network. However, any developments in the case undoubtedly influence the prices of XRP.

Earlier this week, a federal judge made a significant ruling, stating that the SEC is not permitted to keep documents related to former official William Hinman's 2018 speech on cryptocurrency and securities sealed in its case against Ripple. The judge deemed these documents as "relevant to the judicial process."

District Judge Analisa Torres, presiding over the U.S. District Court for the Southern District of New York, has issued a ruling declaring that the documents related to the aforementioned speech must not be sealed under a court order. In the speech, William Hinman, the former SEC Director of Corporation Finance, expressed his opinion that ether was not considered a security.

The availability of these documents would enable Ripple's legal team to understand the rationale behind Hinman's determination, potentially influencing the classification of XRP as a security. Some traders perceive this as a positive development for XRP tokens, as it suggests a favorable outcome for Ripple in the court case and consequently affects its price in a bullish manner.

“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,” Henry Liu, CEO of crypto trading platform BTSE, wrote in a Telegram message to CoinDesk.

“Others are speculating that Ripple could even emerge victorious from the court battle, regardless of which faction is correct, the presumed resolution of the case in Ripple’s favor is driving this positive momentum," Liu added.