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.

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