Investors are closely watching the price movements of XRP, the cryptocurrency associated with Ripple Labs, as the company continues its legal battle with the US Securities and Exchange Commission (SEC). Despite the lawsuit, XRP has experienced three price rallies, reacting to significant events in the case, such as Judge Torres' summary judgment, the SEC's loss against Ripple executives, and the bull market rally before the Bitcoin halving in March.

Investors are taking positive positions in futures and options expiring on May 31, driven by Ripple's success in the lawsuit and the belief that the US Federal Reserve might cut interest rates. The expiration of crypto market options on May 31 could lead to significant price fluctuations across the market. Data from Deribit reveals call options up to $1.1 in the newly launched XRP options trading on the platform, and the latest options trading expiration data indicates a maximum region of $0.54, renewing 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 seen as profitable for traders. A slight increase above $0.54 in XRP price is anticipated, considering the maximum point.

Currently, XRP price trades sideways at $0.5275, with the lowest and highest price levels in the last 24 hours being $0.5238 and $0.5399, respectively. The trading volume exceeded $1.1 billion after an 85% increase in the last 24 hours. The total open interest in XRP futures is at 1.18 billion XRP, valued at $629.82 million.

As the Ripple vs SEC case continues, plaintiff, defendant, and third parties await the final result after Judge Torres' decision on the sealing request. Experts closely following the XRP case believe the decision may come earlier than expected, likely in the third quarter of 2024. The SEC has recently requested a total of $2 billion in fines from Ripple Labs and opposed Ripple's latest attempt to conceal evidence from the public.