XRP price continues to trade within a stable range despite the lawsuit filed by the US Securities and Exchange Commission (SEC) against Ripple Labs. XRP experienced three price rallies so far, reacting to Judge Torres’s summary judgment, SEC’s loss against Ripple executives, and the bull market rally before the Bitcoin halving in March.
XRP Coin Comments
Investors took positive positions in futures and options expiring on May 31, driven by Ripple’s success in the lawsuit and the belief that the US Federal Reserve might cut interest rates. A significant price fluctuation is expected across the market with the expiration of crypto options on May 31.
Data provided by Deribit reveals call options up to $1.1 in newly launched XRP options trading on the platform. Additionally, the latest options trading expiration data continues to indicate a maximum region of $0.54, potentially renewing sentiment for further price increases.
Over 5,260 XRP options with a nominal value of $2.81 million will expire on May 31. The put-call ratio stands at 0.22, indicating a profitable scenario for traders. On the other hand, considering the maximum point, a slight rise above $0.54 in XRP price is anticipated.
XRP price currently trades flat at $0.5275. The lowest and highest price levels in the past 24 hours are $0.5238 and $0.5399, respectively. Meanwhile, trading volume surged by 85% in the last 24 hours, exceeding $1.1 billion.
Moreover, the total open interest in XRP futures stands at $629.82 million, equivalent to 1.18 billion XRP.
Ripple Vs SEC Latest Status
Plaintiff, defendant, and third parties await the final outcome after Judge Torres’s decision on the sealing request. Experts closely following the XRP case believe the decision might come earlier than expected, likely in the third quarter of 2024.
In a recent request by the SEC, a total fine of $2 billion was demanded from Ripple Labs. Additionally, the SEC opposed Ripple’s latest attempt to withhold evidence from the public.
