XRP Futures Trading Doubles as Investors Hope for Ripple's Victory Against SEC

XRP, the sixth-largest cryptocurrency by market cap, has surged nearly 21.6% in the past week, rising 55% since the start of January. The asset's price surge is due to investor confidence that its creators, Ripple Labs, will win a legal battle against the U.S. Securities and Exchange Commission (SEC). The SEC alleges that Ripple Labs and two of its co-founders misled investors by raising $1.3 billion in unregistered securities offerings since 2013. The XRP rally is "based on hope," according to experts, and if Ripple Labs wins, it would be historic for the crypto industry.