Despite the crypto market's overall retracement of gains since the start of the week, XRP has maintained bullish momentum, partly due to a significant court ruling involving the SEC's lawsuit against Binance. Ripple's legal counsel, Michael Kellogg, argued that this ruling supports Ripple's case that its alleged illegal sales of XRP do not warrant the "harsh remedies" the SEC suggests.

Judge Amy Berman Jackson dismissed SEC claims that secondary market sales of Binance's BNB token constituted securities transactions, criticizing the SEC's decision to "oversee this billion-dollar industry through litigation" as "inefficient" and lacking clear guidance. This supports Ripple's argument for clarity on the legality of different types of XRP sales.

Following a ruling on Ripple approximately a year ago, XRP surged about 70% in one day and was relisted on several major exchanges. The lawsuit has become a key reference point for the crypto industry in its ongoing disputes with the SEC regarding whether other crypto assets or sales qualify as unregistered securities. Despite Bitcoin and Ethereum's declines, assets targeted by the SEC, including XRP and Solana (SOL), rose 1.2% and 3.4% respectively.