The XRP coin has risen by up to 5% over the last 24 hours, after reported about the landmark case that was brought against Ripple by the U.S. Securities and Exchange Commission (SEC).

XRP is trading at 46 cents, up over 2% for the second day in a row. Bitcoin (BTC), ether (ETH), and other cryptos fell by 1%.

The XRP coin has gained nearly 10% in value over the last week. It is now the most valuable token among all major coins.

In 2020, the SEC filed a lawsuit against Ripple over allegations that it sold securities without registration. Ripple, which has traditionally kept a distance with XRP (the token that powers its products and XRP Ledger), has a long history of avoiding the cryptocurrency. Any progress in the case has a clear impact on XRP’s price.

A federal judge ruled earlier this week that the SEC could not seal documents related to William Hinman’s 2018 Ripple speech on crypto and security, as they were “relevant to judicial process.”

District Judge Analisa Torres of the U.S. District Court of the Southern District of New York ruled that documents related to the speech in which the former SEC director of Corporation Finance stated in his opinion that ether was not considered a security could not be sealed by a court order.

These documents could be accessed by Ripple’s lawyers to learn how Hinman reached that conclusion. This information may impact XRP’s classification as a financial instrument. Some traders view this as a positive for XRP, since they are pricing Ripple’s win in the court case.

Henry Liu of the crypto trading platform BTSE wrote to CoinDesk in a Telegram that the XRP has risen by double digits, and is now above its previous resistance levels. Rumors are circulating that Ripple, the SEC, and other parties have reached a possible settlement.

Liu said, “The positive momentum is being driven by the assumption that the case will be resolved in Ripple’s favor, irrespective of which side is right.”

Parikshit Miishra is the editor.