The XRP rate exceeded $0.56 due to the growth of the cryptocurrency market; its capitalization is approaching $30 billion. The current lawsuit against the US SEC has caused significant fluctuations in the price of XRP; Ripple recently achieved three significant partial victories in this case, which increased the value of its token. In mid-July, the court ruling was in favor of Ripple, which led to an increase in the price of XRP by 70%; recent developments include the dismissal of an SEC appeal and the acquittal of Ripple's CEO and executive chairman of all charges.