Deribit Exchange Sees Surging XRP Options Activity Amid 12% Price Rally

XRP surged 12% within 24 hours, reaching $3.32—its highest price point since late July and outperforming both Bitcoin and Ethereum. This upward movement aligns with sophisticated options trading on Deribit, where traders placed $416,000 in straddle positions betting on significant price volatility.

Notable block trades executed on Thursday included simultaneous purchases of 100,000 call and put contracts at $3.20 and $3.10 strike prices. These non-directional trades indicate institutional players are anticipating a volatility catalyst, though the exact trigger remains unidentified.

Deribit's Asia head reported growing institutional interest in XRP options, prompting the exchange to introduce year-end contracts. Year-to-date, XRP has outperformed BTC, attracting sophisticated capital typically reserved for larger market-cap assets.