XRP surged after Ripple CEO Brad Garlinghouse said the U.S. Securities and Exchange Commission is no longer pursuing its appeal in the case against the payments company.The price of XRP was last higher by 10% at $2.

Ripple is the technology company that developed XRP (CRYPTO: XRP), the digital currency native to the XRP Ledger. Ripple uses that blockchain platform to offer cross-border payment solutions to banks and other financial institutions like merchant services providers.

Ripple CEO Brad Garlinghouse sees closely related XRP as part of the White House’s proposed digital asset stockpile and anticipates the launch of an XRP exchange-traded fund (ETF) before the end of 2025, per a Bloomberg Markets interview.