XRP (XRP) Faces $0.54 Max Pain Price Ahead of May Options Expiry: What Investors Need to Know

  • XRP options monthly expiry has a max pain price of $0.54 for May as investors await the final decision in the Ripple Vs SEC lawsuit.
  • The U.S. SEC lawsuit against Ripple Labs continues to impact XRP’s price.
  • Investors are eagerly awaiting the final decision in the Ripple Vs SEC lawsuit.

Discover the latest developments in the Ripple Vs SEC lawsuit and its impact on XRP’s price, as May’s options expiry approaches with a max pain price of $0.54.

Why May Monthly Options Expiry Is Crucial

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.

Market Sentiment and XRP Price Action

Deribit data shows the newly launched XRP options trading on the platform have strong calls as high as $1.1. However, the latest options trading expiry data indicates a max pain 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 pain point indicates a slight increase in XRP price to above $0.54.

XRP price is trading sideways with the price currently 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 hours, indicating massive interest among traders.

Thus, XRP will have strong price action in the coming weeks as the max pain point is at $0.54. Meanwhile, total XRP futures open interest has also increased to 1.18 billion XRP worth $629.82 million.

Latest Update on Ripple Vs SEC

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. XRP lawsuit 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 Ripple’s latest motion to seal evidence from the public. The SEC claimed Ripple’s redaction requests would hide public information that is key to the court’s decisions in the remedies phase.

Conclusion

As the Ripple Vs SEC lawsuit approaches its final stages, the outcome will significantly impact XRP’s price and market sentiment. With May’s options expiry having a max pain price of $0.54, traders are closely monitoring the situation. The anticipation of a favorable ruling for Ripple and the potential for increased market volatility make this a critical period for XRP investors. Stay tuned for further updates as the legal battle unfolds and its implications for the broader cryptocurrency market.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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