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’ summary judgment, the 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, influenced 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 market options on May 31.
Data from Deribit shows call options up to $1.1 in newly launched XRP options trading on the platform. Additionally, the latest options trading expiry data continues to indicate a maximum region of $0.54, which could renew sentiment for further price increases.
Over 5,260 XRP options, nominally valued at $2.81 million, will expire on May 31. The put-call ratio indicates 0.22, which is considered profitable for traders. Evaluating the maximum point, a slight increase above $0.54 in XRP price is anticipated.
XRP price continues to trade sideways at $0.5275. The lowest and highest price levels in the last 24 hours are $0.5238 and $0.5399, respectively. Additionally, trading volume exceeded $1.1 billion after an 85% increase in the last 24 hours.
Moreover, the total open interest in XRP futures is at 1.18 billion XRP, valued at $629.82 million.
Ripple Vs SEC Latest Status
Plaintiff, defendant, and third parties await the final outcome after Judge Torres’ 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.
