XRP Traders Bet Big on $1.10 Price Target Amid Bullish Optimism

XRP has become the talk of the town among crypto enthusiasts, who are betting big on its price hitting $1.10 soon.

The digital asset's price has been stagnant in recent days, trading at around $0.5684 with only a 1% increase in the broader market over the same period.

Despite some volatility in the past week, with a 13.5% gain and 7% monthly growth, XRP is still down 10% year-on-year.

Ripple's settlement with the SEC for $125 million has not had the expected effect on the price, but traders are now taking a more optimistic view due to a massive spike in call options for XRP, particularly those targeting the $1.10 strike price.