XRP has secured the third slot among the largest cryptocurrencies after racing ahead of USDT as the SEC dropped charges against Ripple.

XRP was edging higher on Thursday even though some investors were taking the opportunity to lock in profit after a big rally.The token, which is used to settle and facilitate transactions on Ripple Labs’ digital-payments platform,

The price of the XRP coin is up more than 8% after the CEO of cryptocurrency company Ripple said the U.S. securities watchdog has dropped its four-year-old case against the company.

Donald Trump said the crypto industry is poised to “unleash an explosion of economic growth” and help it expand US dollar dominance.

With the U.S. government's help, the crypto industry will become a dominant in finance, U.S. President Donald Trump said Thursday. Crypto is "as big as you can get," he said during a five-minute taped speech at the Digital Asset Summit in Manhattan.

President Trump on Thursday said he will push America to dominate the emerging crypto market through a national stockpile of Bitcoin and legislative guidance for the industry from Congress.