Deribit Exchange Sees Surging XRP Derivatives Activity as Price Hits Two-Week High

XRP surged 13% to $3.36, marking its highest level since late July and outperforming both Bitcoin and Ethereum. Derivatives activity on Deribit signaled anticipation of volatile price movements, with a notable block trade involving 100,000 August expiry call and put contracts at the $3.20 strike, totaling over $416,000 in premiums. This long straddle strategy—profiting from large swings in either direction—was complemented by another sizable position at $3.10.

Institutional demand for XRP options is growing, with Deribit expanding its offerings to include year-end contracts. "XRP has outperformed BTC this year," noted Lin Chen, Deribit’s Asia Business Head, highlighting increased block trades and institutional interest.

Regulatory uncertainty eased after Ripple and the SEC agreed to dismiss their appeals, removing a longstanding overhang. Trading volume surged to $10.93 billion as momentum built.