XRP $3 Call Options Lead Trading Volumes Amid Bullish Market Signals
Payments-focused cryptocurrency XRP has increased by over 3.5% in the last 24 hours. Options trading on Deribit indicates bullish sentiment, particularly for higher-level call options.
- Most traded options since July 1 include July 25 calls at strikes of $3.00 and $4.00, as well as a September 28 call at $2.80.
- The $3 call option saw 2 million contracts traded primarily as buy orders, indicating strong demand.
- Analysts estimate a 95% chance of approval for a spot XRP ETF by the U.S. SEC.
- Ripple applied for a national banking license, which could enhance trust in the stablecoin market.
- XRP/BTC has broken out of a falling wedge pattern, signaling a potential bullish trend resumption.
- Despite the bullish breakout, the 50-day and 100-day SMAs are trending downwards, indicating caution.