Ripple's XRP has become the fourth-largest cryptocurrency after its market cap surged by $21 billion within three hours of a partial court victory against the Securities and Exchange Commission (SEC).

After the court ruling, XRP's market cap reached a yearly high of $46.1 billion, rising from the seventh-largest to overtake Circle's USD Coin (USDC) and Binance's BNB token.

Ripple's market capitalisation now rests at approximately $42.5 billion.

XRP's price also saw dramatic growth, swelling by as much as 98% to reach $0.93 in the hours following the ruling. The boost to XRP followed a decision by the District Court for the Southern District of New York that "offers and sales of XRP on digital asset exchanges did not amount to offers and sales of investment contracts".

The ruling temporarily caused US crypto exchange Uphold to crash due to an unprecedented spike in volume, prompting a flurry of re-listing on exchanges such as Coinbase, Kraken, and iTrustCapital.

The Winklevoss-owned crypto exchange Gemini has hinted it may re-list XRP soon.