Ripple (XRP<\/a>) has now become the fourth largest cryptocurrency by market capitalization after Ripple Labs’ partial victory over the Securities and Exchange Commission (SEC<\/a>) on July 13. <\/p>\n Mere hours after the ruling, XRP market cap surged a whopping $21.2 billion to reach a new annual high of $46.1 billion, pushing it up from the 7th position to beat out Circle’s USD Coin (usdc<\/a>) and Binance’s BNB (bnb<\/a>token in the process. <\/p>\n At the time of writing, Ripple’s market capitalization has settled down to $42.5 billion. <\/p>\n The sudden surge for XRP came immediately after the District Court for the Southern District of New York announced<\/a> that the \u201coffer and sale of XRP on digital asset exchanges did not amount to offers and sales of investment contracts\u201d in a case involving Ripple Labs and the SEC.<\/p>\n Similarly, the price of XRP surged as much as 98% in the hours following the decision, reaching as high as $0.93 according to date<\/a> from TradingView. <\/p>\n Related: <\/em><\/strong>Why is XRP price up today?<\/em><\/strong><\/a><\/p>\n The apparent rush to buy up XRP even briefly caused US crypto exchange Uphold to go down due to a \u201csimply unprecedented\u201d spike in volume. <\/p>\n \u201cYes, we went down but no platform could cope with the 50x spike in volume we saw today.\u201d<\/p><\/blockquote>\n Uphold is understood to have been one of the few larger US-based cryptocurrency exchanges that had continued to offer sales of XRP, while others chose to delist<\/a>, <\/p>\n Uphold is back up!<\/p>\n Yes, we went down but no platform could cope with the 50x spike in volume we saw today.<\/p>\n Uphold feels proud and vindicated to have been THE ONLY platform to stick with XRP through thick and thin over the past few years.<\/p>\n We’d love to give props to our law firm\u2026<\/p>\n \u2014 Uphold (@UpholdInc) July 13, 2023<\/a><\/p><\/blockquote>\n The new ruling has also sparked a fresh wave of re-listing activity from mainstay US exchanges, with Coinbase, Kraken and iTrustCapital<\/a> making the token available for trading on their respective platforms. <\/p>\n The Winklevoss-owned crypto exchange Gemini has hinted that it too will look to re-list XRP sometime in the near future. <\/p>\n Magazine: <\/em><\/strong>How smart people invest in dumb memecoins \u2014 3-point plan for success<\/em><\/strong><\/a><\/p>\n <\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-07\/678471bf-d36c-4a56-bb09-11ff080a0d09.png\"\/)
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