Deribit Exchange Sees Surge in XRP Call Options as Traders Target $3 Strike Price

XRP's derivatives market is showing strong bullish signals with traders heavily investing in high-strike call options. The payments-focused cryptocurrency has gained 3.5% in the last 24 hours, according to Deribit data, which highlights concentrated demand for July $3 calls and September $2.80 calls. These contracts indicate bets that XRP will rise above these levels by their respective expiration dates.

Market structure reveals aggressive positioning: 2 million contracts were traded at the $3 strike in buy-side transactions, while the $2.80 call saw mostly sell-side activity. The $3 call also leads this week's open interest growth, reflecting sustained bullish sentiment.

This options activity aligns with a technical breakout. XRP/BTC's wedge formation on daily charts suggests the recent rally may continue. The momentum comes as Bloomberg analysts note increasing likelihood of a U.S. spot XRP ETF approval, potentially transforming institutional access to the asset.