Golden Finance reported that XRP’s open interest (OI) has surged recently, indicating that investors expect its price to rise. CryptoQuant’s analysis pointed out that after the price of XRP re-exceeded $0.50, open interest increased significantly, reflecting the market’s close attention to the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC). Ripple’s dispute with the SEC began in December 2020, with the SEC accusing Ripple of conducting an unregistered securities offering through XRP. Last year, Judge Analisa Torres ruled that Ripple’s sales on the public market did not constitute a securities offering, but its direct sale of XRP to institutional investors did. Currently, the focus of dispute between the two sides is the amount of the fine. The SEC initially requested a $2 billion fine, and Ripple’s lawyers suggested no more than $10 million. The SEC ultimately proposed $102.6 million. As open interest and prices increase, market volatility increases and investors need to be cautious.
