XRP has seen sustained buying activity, adding nearly $100 billion to its market cap since its first major legal victory in the Ripple v. SEC case.
That breakthrough came on July 13, 2023, when District Judge Analisa Torres ruled that XRP is not a security when sold to retail investors on public exchanges.
As of May 12, 2025, XRP’s market cap stood at $141.96 billion, up $99.61 billion or 235% from $42.35 billion in July 2023, according to Finbold research.
Over the last 669 days, capital inflows averaged approximately $4.53 billion monthly, $1.04 billion weekly, and $148 million daily. Meanwhile, XRP’s price surged 200%, rising from $0.81 to nearly $2.50.
Ripple wins in SEC case
The research also established that Ripple recorded continued legal momentum, including the SEC’s failed appeal in October 2023 and a favorable April 2024 ruling on institutional sales. These wins and broader market optimism fueled XRP’s sharp rise. According to Paul Luvaga, author of the research:
“XRP’s rise wasn’t fueled by legal clarity alone. Broader market sentiment, especially after the November 2024 U.S. presidential election, also played a crucial role. The election of a crypto-friendly administration signaled a shift in regulatory tone, helping the token break through the long-standing $1 resistance level.”
Now, the legal battle appears close to resolution after both submitted a proposed settlement, pending court approval, featuring a $50 million fine, the return of $75 million to Ripple, and the removal of an injunction.