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 (XRP-USD) gapped up 14% on Wednesday after Ripple's CEO said the U.S. SEC will abandon its long-running lawsuit against the company. Read more details here.

It’s just the latest instance of the SEC easing up on the cryptocurrency industry during the Trump presidency. Ripple’s cryptocurrency XRP has spiked after the SEC said it would drop its lawsuit alleging that the company was selling unregistered securities.