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XRP price has not witnessed any sudden price changes as a result of the U.S. Securities and Exchange Commission (SEC) lawsuit against <a href="https://coingape.com/xrp-sec-lawsuit-update-is-ripple-prepared-for-torres-decision-in-remedies-phase/" target="_blank" rel="noopener noreferrer nofollow">Ripple Labs</a>. XRP only recorded massive price rallies three times in the past year — Judge Torres’ summary judgment, SEC’s dropped changes against Ripple executives, and pre-Bitcoin halving bull market rally in March.
<h2 id="why-may-monthly-options-expiry-is-crucial">Why May Monthly Options Expiry Is Crucial</h2>
Ripple’s success in the lawsuit and anticipation of US Federal Reserve rate cuts starting in March led traders to make bullish futures and options bets for May 31 expiry. The crypto market options expiry on May 31 is crucial for the whole market, with massive volatility expected.
Deribit data shows the newly launched XRP options trading on the platform have calls as high as $1.1. However, the latest options trading expiry data indicates a max paint price of $0.54, which can renew sentiment for further price increase.
Over 5,260 XRP options of a notional value of $2.81 million are set to expire on May 31. The put-call ratio is 0.22, which is very lucrative for traders. Moreover, the max paint point indicates a slight increase in XRP price to above $0.54.
<img decoding="async" class="aligncenter wp-image-199096" src="https://coingape.com/wp-content/uploads/2024/05/screenshot-metrics.deribit.com-2024.05.28-01_47_22-1224x465.jpg" alt="XRP price" width="786" height="299" srcset="https://coingape.com/wp-content/uploads/2024/05/screenshot-metrics.deribit.com-2024.05.28-01_47_22-1224x465.jpg 1224w, https://coingape.com/wp-content/uploads/2024/05/screenshot-metrics.deribit.com-2024.05.28-01_47_22-300x114.jpg 300w, https://coingape.com/wp-content/uploads/2024/05/screenshot-metrics.deribit.com-2024.05.28-01_47_22-768x292.jpg 768w, https://coingape.com/wp-content/uploads/2024/05/screenshot-metrics.deribit.com-2024.05.28-01_47_22-1536x584.jpg 1536w, https://coingape.com/wp-content/uploads/2024/05/screenshot-metrics.deribit.com-2024.05.28-01_47_22-150x57.jpg 150w, https://coingape.com/wp-content/uploads/2024/05/screenshot-metrics.deribit.com-2024.05.28-01_47_22.jpg 1886w" sizes="(max-width: 786px) 100vw, 786px">
<a href="https://coingape.com/price/xrp" target="_blank" rel="noopener noreferrer nofollow">XRP price</a> is trading sideways with the price currently trading at $0.535. The 24-hour low and high are $0.5238 and $0.5399, respectively. Furthermore, trading volume has increased by 82% in the last 24 hour, indicating massive interest among traders.
Thus, XRP will have a strong price action in the coming weeks as the max paint point is at $.54. Meanwhile, total XRP futures open interest has also increased to 1.18 billion XRP worth $629.82 million.
Also Read: <a title="Just-In: Bitcoin Price Regains $70000, Memorial Day Rally In Play?" href="https://coingape.com/bitcoin-price-regains-70000-memorial-day-rally-in-play/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Price Regains $70000, Memorial Day Rally In Play?</a>
<h2 id="latest-update-on-ripple-vs-sec">Latest Update on Ripple Vs SEC</h2>
The plaintiff, defendant, and third parties are waiting for Judge Torres’ final judgment in the remedies phase, likely to come after the decision on the motion to seal. <a href="https://coingape.com/ripple-vs-sec-news-settlement-appeal-judge-torres-final-ruling-timeline/" target="_blank" rel="noopener noreferrer nofollow">XRP lawsuit</a>&nbsp;experts believe the judgment could come much earlier, most likely in 2024 Q3.
The SEC seeks $2 billion in total fines from Ripple Labs and opposed&nbsp;<a href="https://coingape.com/ripple-sec-lawsuit-sec-files-opposition-to-xrp-heres-everything/" target="_blank" rel="noopener noreferrer nofollow">Ripple’s</a> latest motion to seal evidence from the public. The SEC claimed Ripple’s redaction requests would hide public information that are key to the court’s decisions in the remedies phase.
Also Read: <a title="Shiba Inu Super Diamond Trader Liquidates Holdings, Followed By A Secret Message" href="https://coingape.com/shiba-inu-super-diamond-trader-liquidates-holdings-followed-by-a-secret-message/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu Super Diamond Trader Liquidates Holdings, Followed By A Secret Message</a>
The post <a href="https://coingape.com/xrp-max-pain-price-at-0-54-for-may-options-expiry-what-it-means/" rel="noopener noreferrer nofollow">XRP Max Pain Price At $0.54 For May Options Expiry, What It Means?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Max Pain Price At $0.54 For May Options Expiry, What It Means?

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