XRP and Ripple might benefit from Twitter’s collaboration with eToro.

The global digital asset market is on a surge as investors’ sentiment turns positive after U.S. consumer price jumped less than expected in March. This signaled that the Fed is likely to stop hiking rates after a possible rise in May. Amid the recent surge, Ripple’s native token, XRP price emerged as the leading gainer among the top altcoins.

The United States Securities and Exchange Commission (SEC) has claimed that a recent court judgment weakens a key defense made by Ripple Labs in its ongoing legal battle with the regulator. In an April 11 letter to U.S. District Judge Analisa Torres, the SEC highlighted the judge’s opinion in a separate enforcement action it won against investment advisory firm Commonwealth Equity Services. The SEC argued that the longstanding Supreme Court precedent which gave rise to the Howey test provides Ripple Labs with fair notice as to what a security is, just as the precedent referred to in the Commonwealth case had. Ripple’s argument that the SEC had failed to provide it with fair notice before suing it for committing securities fraud in December 2020 is regarded as one of its key defenses. Legal experts such as John E Deaton believe Ripple Lab’s best chance lies in convincing the judge that XRP is not a security based on the Howey test.

The cryptocurrency market has experienced significant growth over the last few days, with the price of the flagship cryptocurrency surpassing $30,000 for the first time in 10 months amid the rally. The price of $XRP, it seems, could be due for more upside in the near future.

XRP's price has been boosted by recent minor legal wins against the US Securities and Exchange Commission (SEC), with the cryptocurrency up around 50% on a year-to-date basis. More than 467 million XRP (approx. worth $235 million) have been moved in multiple transactions over the past 24 hours, according to data from WhaleAlert. The biggest transaction recorded was the movement of 177 million XRP (approx. worth $91.7 million) to an unknown wallet, while whales bought around 83 million XRP tokens (approx. worth $43 million) in multiple transactions.

Coinbase has announced the distribution of Flare token airdrop to eligible users with simple and advanced trades in every approved jurisdiction. The FLR outbound transfers will be unavailable to users until the processing is completed, and the earned funds will be distributed to the Coinbase user account. The token was initially introduced to customers who held XRP in their accounts before December 12, 2020. To be eligible for the airdrop, users must have owned an XRP balance on Coinbase Exchange, Coinbase Pro, or Coinbase.com as of December 12, 2020, and users from Japan or New York are ineligible. The airdrop amount will be based on the XRP balance users had on Coinbase, with a distribution rate of 1.0073 FLR per 1 XRP x 0.15. Coinbase is not charging any fees for the airdrop, and users can trade their FLR after the distribution is completed. Even deactivated accounts can access the airdrop by creating a new account or contacting the Coinbase support team.

XRP is one of the handful of crypto-assets that has outperformed Bitcoin in the latest market-wide rally. Traders are placing their bets on a potential victory for the blockchain firm Ripple’s multi-year legal battle against the US Securities and Exchange Commission (SEC), with a ruling expected in April.

Coinbase has finally listed the Flare (FLR) token following months of persistent calls from the XRP army. The latest development has elicited further agitation for the exchange to relist XRP, given Flare’s close relationship with the XRP ecosystem.

XRP has rallied almost 40% in the past four weeks, outperforming other top digital assets, including bitcoin, driven mainly by retail investors, according to analysis by Kaiko, a Paris-based provider of crypto data. Trading volumes in XRP-Korean won (KRW) trading pairs on South Korean exchanges Upbit, Bithumb and Korbit soared last month, accounting for a giant share of the global activity. XRP has been rallying on hopes that Ripple Labs, which the US argues issued the token, will win its legal battle against the Securities and Exchange Commission (SEC). The cryptocurrency changed hands near $0.52 at press time, having hit a high of $0.58 on March 29.