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Crypto

XRP Bulls Flock to Deribit Ahead of Potential ETF Approval

Guavy AI Editorial Team
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XRP
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Crypto enthusiasts are flocking to XRP, betting big on its price reaching $1.10 soon.

The digital asset has seen a surge in traders placing call options with a strike price of $1.10 on the Deribit exchange, with over 4.45 million open contracts targeting this price.

XRP's price has remained steady at $0.5684, despite a 13.5% climb over the week and 7% monthly gains. However, its year-on-year performance is down 10%

The company behind XRP, Ripple, recently settled with the SEC for a mere $125 million, but this news hasn't sent the price soaring.

Ripple has inked a deal with Dubai's financial innovation hub to boost blockchain adoption in the Middle East, and their Chief Legal Officer, Stuart Alderoty, claimed the SEC now wants to work with Ripple on a potential XRP ETF approval.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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