• XRP’s $1.10 call option sees a surge, driven by speculation of a potential U.S. XRP ETF approval.
• Over $2.4M in XRP options locked in as traders bet on a sharp price increase by August 28.
• Despite optimism, experts doubt XRP will hit $1.10 by month’s end, even with an ETF announcement.

The recent surge in XRP’s options market activity appears driven by growing speculation about a potential XRP exchange-traded fund (ETF). Traders are increasingly locking in positions on Deribit’s $1.10 call option for XRP, reflecting optimism that the cryptocurrency’s price might soar if an ETF is announced soon.

According to data from Amberdata, the $1.10 call option set to expire on August 28 has attracted an open interest of over 4.3 million contracts, valued at $2.44 million. This makes it the most popular option in Deribit’s nascent XRP options market, which has only been around for about five months. The significant interest in this option underscores traders’ belief that XRP could break through its current resistance levels, potentially fueled by the optimism surrounding a possible ETF.

Griffin Ardern, head of options trading and research at BloFin, beli…

The post XRP ETF Speculation Fuels Spike in Options Market Activity appeared first on Coin Edition.

• XRP’s $1.10 call option sees a surge, driven by speculation of a potential U.S. XRP ETF approval.
• Over $2.4M in XRP options locked in as traders bet on a sharp price increase by August 28.
• Despite optimism, experts doubt XRP will hit $1.10 by month’s end, even with an ETF announcement.

The recent surge in XRP’s options market activity appears driven by growing speculation about a potential XRP exchange-traded fund (ETF). Traders are increasingly locking in positions on Deribit’s $1.10 call option for XRP, reflecting optimism that the cryptocurrency’s price might soar if an ETF is announced soon.

According to data from Amberdata, the $1.10 call option set to expire on August 28 has attracted an open interest of over 4.3 million contracts, valued at $2.44 million. This makes it the most popular option in Deribit’s nascent XRP options market, which has only been around for about five months. The significant interest in this option underscores traders’ belief that XRP could break through its current resistance levels, potentially fueled by the optimism surrounding a possible ETF.

Griffin Ardern, head of options trading and research at BloFin, beli…

The post XRP ETF Speculation Fuels Spike in Options Market Activity appeared first on Coin Edition.