Türkçe
Español
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 has experienced three price rallies so far, reacting to Judge Torres’ summary judgment, the SEC losing a case against Ripple executives, and the bull market rally before the Bitcoin halving in March.
XRP Coin Analysis
Investors have taken positive positions in futures and options expiring on May 31, driven 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 shows 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, which is considered profitable for traders. On the other hand, a slight increase above $0.54 in the XRP price is anticipated when considering the maximum point.
XRP price is currently trading flat at $0.5275. The lowest and highest price levels in the last 24 hours were $0.5238 and $0.5399, respectively. Additionally, trading volume has 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 Developments
Plaintiff, defendant, and third parties are awaiting the final outcome in Judge Torres’ resolution process, likely after her decision on the sealing request. Experts closely following the XRP case believe the decision could come earlier than expected, possibly in the third quarter of 2024.
A recent request by the SEC demanded a total fine of $2 billion from Ripple Labs. Additionally, the SEC opposed Ripple’s latest attempt to keep evidence from the public.
