Despite the ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC), investors remain optimistic about the future of XRP. The cryptocurrency has experienced several price surges, including reactions to recent court decisions and the pre-Bitcoin halving rally in March.

Investors are taking positive positions in XRP futures and options set to expire on May 31, driven by Ripple's success in the lawsuit and the expectation that the US Federal Reserve might lower interest rates. This has led to a significant increase in trading volume, exceeding $1.1 billion in the last 24 hours, and a surge in open interest in XRP futures to $629.82 million, equivalent to 1.18 billion XRP.

Data from Deribit shows a significant number of 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, potentially renewing sentiment for further price increases. Over 5,260 XRP options with a nominal value of $2.81 million will expire on May 31, with a put-call ratio of 0.22, indicating a profitable scenario for traders.

The XRP price currently trades flat at $0.5275, with the lowest and highest price levels in the past 24 hours being $0.5238 and $0.5399, respectively. The market is anticipating a slight rise above $0.54 in XRP price.

The legal battle between Ripple and the SEC continues, with the SEC demanding a total fine of $2 billion from Ripple Labs. The SEC has also opposed Ripple's latest attempt to withhold evidence from the public. The outcome of the lawsuit is expected to be decided by Judge Torres, with experts predicting a decision earlier than expected, likely in the third quarter of 2024.