XRP price jumped to an all-time high Wednesday.The price of the popular altcoin, used to facilitate and settle transactions on the Ripple payment platform, soared 14% to $2.99 over the past 24 hours,

The XRP price pumped more than 8% to above $3 for the first time since 2018 as Ripple chief legal officer Stuart Alderoty said the US Securities and Exchange Commission (SEC) lawsuit against the company has become “just noise.” XRP soared to as high as $3.18 in the past 24 hours, but has since pared gains to trade at $3.06 as of 3:02 a.m. EST.

XRP has once again hit a new milestone, breaking $3 for the first time in since 2018 even as the SEC filed an appeal in its case against Ripple.

The SEC asserts that labor and services received in exchange for XRP satisfy the “investment of money” criterion outlined in the Howey framework. Ripple’s legal team has consistently rejected the SEC’s claims, maintaining that XRP is a digital currency, not a security.

Ripple’s XRP has reached a major milestone, almost touching the $3 mark for the first time since 2018, signaling a significant price surge for the token. The coin has surged more than 15% in the past 24 hours,