Deribit Exchange Data Reveals Bullish XRP Bets as Traders Target $3 Price
XRP has surged 3.5% in the past 24 hours, with Deribit options data showing aggressive bets on further upside. July $3 and $4 calls dominate trading volumes, signaling strong conviction in a near-term rally. The $3 strike alone saw 2 million contracts traded, predominantly through buy orders.
Market structure indicates traders are positioning for a breakout. Open interest growth confirms the $3 call as the most popular contract, while the $2.80 September call shows profit-taking activity. This options frenzy coincides with growing speculation about a potential XRP spot ETF approval in the US.