XRP Faces Downside Concerns Amid ETF Speculation, Options Data Indicate
Analysts suggest that XRP may be the next cryptocurrency to receive a spot ETF listing in the U.S., following bitcoin and ether. However, the Deribit options market indicates skepticism.
- Deribit's put options for XRP are more expensive than call options, signaling downside fears.
- Put options provide insurance against price declines; traders use them to hedge or profit from expected drops.
- Negative skews in options indicate higher demand for puts compared to calls.
- XRP has broken out of an ascending wedge pattern, potentially retesting recent lows near $1.6.
- XRP shows stronger order book depth compared to Solana and other tokens, suggesting easier trading of large orders at stable prices.