Crypto
Ripple Traders Flock to $1.10 XRP Call Options
XRP traders are placing big bets on a price surge to $1.10, despite the asset's stagnant recent performance.
The digital currency has seen a modest 13.5% gain over the past week and a 7% monthly increase, but its year-on-year loss stands at 10%. Ripple, XRP's parent company, recently settled with the SEC for $125 million, which some might expect to boost prices.
However, traders are buying call options on Deribit with a strike price of $1.10, hinting at an upward move. Deribit's data shows 4,452,000 open contracts targeting this price, which could signal a significant shift in market sentiment.