The price of the cryptocurrency XRP (CRYPTO: XRP) has blasted more than 42% higher this week as of 10:27 a.m. ET Friday, according to data provided by S&P Global Market Intelligence.

Investors believe Ripple Labs, the company behind XRP, is on the verge of a major legal win in the case that has dogged the company for two years now.

The Securities and Exchange Commission (SEC) sued Ripple in 2020, claiming the company had not properly registered XRP as a security and also did not provide adequate disclosure to investors. 

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Source Fool.com