Deribit Exchange Data Reveals XRP and Solana Options Bullish Momentum as Bitcoin and Ethereum Face Pressure

Deribit exchange News - Deribit's options data reveals a stark divergence in crypto market sentiment. Traders are aggressively betting on year-end rallies for XRP and Solana, while Bitcoin and Ethereum face persistent bearish pressure. XRP call options trade at a premium across all expirations, with December contracts commanding a 6-volatility-point spread over puts. This optimism stems from potential spot ETF approvals in the U.S., with major issuers like Bitwise and Franklin Templeton awaiting SEC decisions delayed until October 2025. Analysts project $5 billion in first-month inflows should approvals occur, potentially propelling XRP beyond its current $2.88 price. Some bulls envision $50 targets. Solana's options market shows even stronger conviction, with December calls trading 10 vol points above puts. The Alpenglow upgrade—approved by 98% of stakers—reduces finality from 12.8 seconds to sub-150 milliseconds, positioning SOL as a viable blockchain for high-frequency trading and institutional adoption. Meanwhile, Bitcoin's options market remains mired in bearish positioning, with puts consistently outpricing calls—a stark contrast to the altcoin rally.