Why is XRP Rising?
With the price increases on the XRP front, Ripple's ongoing legal battle against the US Securities and Exchange Commission (SEC) came amid a potential settlement process. Accordingly, the SEC may seek a significant reduction in the fine expected to be imposed on Ripple Labs.
In particular, a discovery process is still ongoing between the SEC and Ripple regarding solutions to Ripple's $770 million worth of XRP sales to institutional investors. Ripple expects to reduce potential settlement costs with the SEC by more than 50%, citing the Morrison vs. National Australia Bank case as an example.