XRP Price Surges Past $3. These 3 Factors are Turbo Charging the Crypto. — Barrons.com

By Elsa OhlenXRP's price rallied Thursday, helped by a raft of factors that appeared to please crypto investors.XRP, the popular altcoin used to facilitate and settle transactions on Ripple's payments platform, is up 8.7% over the last 24 hours trading at $3.04, according to CoinDesk data.Several developments influenced the price of cryptos Wednesday. First, the latest U.S. core inflation reading declined, increasing expectations that the Federal Reserve will cut interest rates several times this year. Lower rates typically benefit cryptocurrencies.Crypto experts also expect several new spot ETFs, as Barron's reported Wednesday. These ETF's would own actual crypto, instead of crypto futures.Lastly, the Securities and Exchange Commission's legal case against Ripple was the focus of much positive speculation around the platform and XRP.The SEC sued Ripple back in 2020. A court found Ripple had broken investor-protection laws and ordered the company to pay a fine of $125 million — far less than the $2 billion sought by the SEC. Ripple CEO Brad Garlinghouse had called the ruling a "victory."The regulator appealed that decision in October last year and faced a deadline to file its opening brief in the appeal on Wednesday."The SEC's appeal brief is a rehash of already failed arguments," Ripple's Chief Legal Officer Stuart Alderoty wrote in a post on X late Wednesday. "We'll respond formally in due time."The SEC didn't immediately respond to a request for comment outside of normal working hours.Among other digital coins, Bitcoin was rising 2.1% while Ether is up 3.2% over the last 24 hours, according to CoinDesk data. Solana and Dogecoin also rose.Write to Elsa Ohlen at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.