However, Ripple is moving in a different direction. Garlinghouse said, “This is an industry that will finally be able to thrive in the United States, the world's largest economy," hinting at acquisitions to further increase its influence in the blockchain market.

Ripple CEO Brad Garlinghouse said Wednesday that the SEC is no longer pursuing its appeal in the case against the payments company.

The price of XRP jumped more than 8% Thursday after the CEO of cryptocurrency company Ripple said U.S. regulators have dropped its four-year-old case against the company. The Securities and Exchange Commission sued Ripple and two of its executives in late 2020 after they raised $1.