Ripple and the US Securities and Exchange Commission (SEC) have officially settled their legal battle.XRP's price surged by 8% to reach $2.31 following the announcement of the settlement.Ripple will pay $50 million to the SEC as part of the agreement, and another $125 million held in escrow will be released.With the legal battle over, experts believe XRP could reach $3 soon, as it sees a breakout and strong momentum in the market.