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 isn't alone in its rise today. The market saw green across the board. That's because new data was released that shows inflation for the period was less than expected. This, more often than not, leads to a boost in investor confidence, especially for riskier assets like crypto.