
The XRP, the native token of the Ripple protocol, is trading at $0.528 at the time of writing, up nearly 4%.
Despite XRP slightly backtracking from a recent high of $0.545 set last night, CoinGecko data shows.
The cryptocurrency industry's fifth-largest asset by market cap makes it the best-performing asset among the top 50 cryptocurrencies, with Bitcoin and Ethereum posting daily losses of 0.5% and 1.3%, respectively.
XRP is also up six-fold over the week, with the latest uptick in price spurred by the news of a federal judge declining the U.S. Securities and Exchange Commission's bid to appeal her prior decision regarding Ripple Labs.
In her ruling on July 13th, U.S. District Judge Analisa Torres concluded that the sale of the XRP digital token on public exchanges did not constitute an illegally unregistered securities offering, as buyers did not have a reasonable expectation of profit based on Ripple's actions.
On Wednesday, Ripple said it has secured a full payments license for its Singapore affiliate to operate in the city-state.
The license, granted by the Monetary Authority of Singapore, will allow Ripple Markets APAC to continue providing regulated digital payment token services in Singapore.
The company has said it will prioritize Asia Pacific region for the adoption of its crypto-enabled payment solutions.
On a mixed note, Avalanche is up 3.3% on the day, followed by Polygon and TRON, both up 1.7% and 1.3%.
However, Solana and Cardano are down 3% and 2.9% over the span.