- XRP price increased over 3.5% in the last 24 hours, with rising bullish activity in the cryptocurrency’s options market.
- Options trading volumes reveal strong interest in high-strike call options, especially for contracts expiring in late July and September.
- Market sentiment for a U.S.-listed spot XRP ETF is optimistic, with Bloomberg analysts estimating a 95% likelihood of approval.
- Ripple has formally applied for a U.S. federal banking license to enhance oversight in stablecoin transactions.
- The XRP/BTC trading pair broke a key technical level, confirming a bullish trend, though some average-based indicators remain cautious.
XRP, the payments-oriented cryptocurrency, climbed by more than 3.5% in the past 24 hours. Increased trading in options listed on Deribit points to stronger bullish expectations among investors.
Since July 1, trades in high-strike call options—contracts that let buyers purchase XRP at a fixed price in the future—stood out. According to Amberdata, the most active options were the July 25 calls with $3.00 and $4.00 strike prices and the September 28 expiry calls at a $2.80 strike price.
A call option gives the holder the right to buy an asset at a predetermined price by a certain date. Trading data shows most activity in the $3.00 calls was on the buy side, with 2 million contracts changing hands in the past day. In contrast, investors mostly sold the $2.80 calls, meaning they are either taking profit or expecting that strike to hold as resistance.
Open interest, which tracks how many contracts are still active, increased the most for the $3 strike call over the last week. Activity in higher strike calls follows heightened expectations for the debut of a spot XRP ETF in the U.S. Bloomberg analysts Eric Balchunas and James Seyffart put the likelihood of Securities and Exchange Commission approval at 95%.
On Wednesday, financial technology company Ripple—which uses XRP for cross-border payments—announced it has applied for a national banking license with the U.S. Office of the Comptroller of the Currency. “If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market,” CEO Brad Garlinghouse stated on X (formerly Twitter).
In technical trading, the price of XRP versus Bitcoin (XRP/BTC) has broken out of a “falling wedge” chart pattern on Binance. This setup, which marks declining volatility and typically signals a bullish reversal, suggests that sellers are losing strength and that the correction since April may be over.
Although this pattern indicates a favorable trend for XRP, some commonly used moving averages, such as the 50-day and 100-day averages, are still trending downward. These average-based indicators can lag behind actual price movements and, for now, are less influential than the current bullish breakout.
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