Ripple Rally: XRP Bulls Bet Big on $1.10 Breakout

Crypto traders are piling into XRP, betting big on it hitting $1.10 soon. Despite its price stagnation at $0.5684 in the last day, the digital asset has seen a significant surge in recent weeks, with a 13.5% gain over the week and 7% monthly increase.

However, year-on-year, XRP is down 10%. Ripple's settlement with the SEC for $125 million hasn't sent prices soaring, but traders are now flocking to call options on Deribit with a strike price of $1.10.

A massive spike in these options suggests that many believe XRP will break through its current stagnation and reach the target price.