XRP Bulls Flock to Deribit Ahead of $1.10 Target

Crypto enthusiasts are enthusiastically betting on XRP's price reaching $1.10 soon, despite its current price of $0.5684 and relatively modest gains over the past week and month.

While XRP has climbed 13.5% in the past seven days and 7% in the last month, its year-on-year performance is a lackluster -10%. This could suggest that investors are not taking its recent settlement with the SEC for $125 million too seriously.

A closer look at Deribit's data reveals a massive surge in call options targeting the $1.10 strike price, with 4,452,000 open contracts.

Ripple's Chief Legal Officer, Stuart Alderoty, hinted that the SEC might be willing to collaborate on an XRP ETF approval, which could significantly boost the asset's value.