XRP price continues to trade within a stable range despite the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple Labs. XRP experienced three price rallies over the past year. The rallies occurred after Judge Torres’ summary judgment, during 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 U.S. 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 from Deribit reveals call options up to $1.1 in newly launched XRP options trading on the platform. Additionally, the latest options trading expiration data indicates a maximum region of $0.54, which could renew 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 situation for traders. On the other hand, considering the maximum point, a slight increase above $0.54 in XRP price is anticipated.
XRP price is currently trading horizontally at $0.5275. The lowest and highest price levels in the last 24 hours were $0.5238 and $0.5399, respectively. Additionally, the 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 $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’ decision on the sealing request. Experts closely following the XRP case believe the decision could come earlier than expected, likely in the third quarter of 2024.
In a recent request by the SEC, a $2 billion fine was demanded from Ripple Labs. Additionally, the SEC opposed Ripple’s latest attempt to conceal evidence from the public.
