Ripple was at the center of a legal storm in the past four years as the SEC hounded the fintech company over alleged securities violations over its $XRP sales, but in the past month, the company bounced back in what could be the biggest recovery of the year.

The surge in the value of the XRP token comes amid speculation that the SEC may drop its legal case against Ripple Labs, the company that developed the XRP platform.

XRP, the native asset used by blockchain payments firm Ripple, has surged to a new 2024 high as investors anticipate pro-crypto developments in the United States under President-elect Donald Trump.

Ripple Labs' XRP Token has come up trumps post-election to become one of the world’s biggest cryptocurrencies. The currency leapfrogged Solana’s SOL and is now fourth behind only Tether’s USDT, Ether token and of course Bitcoin.