Table content
# XRP Gains 4% Amid March Options-Driven Enthusiasm
Investors are wagering on an upswing in XRP’s valuation, propelling it upwards by more than 4%, spurred by substantial acquisitions of options set to expire in March that would yield gains if the price reaches specific thresholds.
On Friday, March 21st, XRP (Ripple) experienced a 4% increase, reaching $2.41, with options participants concentrating on in-the-money call options, resulting in a rise in open interest. Based on Deribit data, options traders “invested heavily in options expiring on March 28th, with in-the-money calls constituting the majority of open interest.”
This surge follows a declaration by Ripple CEO Brad Garlinghouse that the U.S. Securities and Exchange Commission (SEC) will not be challenging the prolonged legal dispute against the firm. Garlinghouse conveyed on X that the SEC’s choice to dismiss the appeal signifies a pivotal moment for XRP, while also noting that a commission vote is still necessary, introducing some uncertainty.
The legal conflict has exerted pressure on XRP since 2020, with numerous exchanges removing the token from their listings. Presently, traders seem to be speculating on additional advancements. Despite the initial surge, some prudence persists. As crypto.news previously indicated, analysts highlight a crucial support level at $2.2653, with a breach below this level potentially indicating a trend reversal. Nevertheless, technical indicators suggest the potential for further upward momentum.
Market attitude also presents ambiguous signals. Coinglass data reveals that the XRP long/short ratio across most derivatives exchanges exceeds 1, indicating bullish positioning. However, funding rates have become negative, which typically signifies a bearish signal.
Earlier, Garlinghouse alluded to forthcoming developments, mentioning the possibility of an XRP ETF introduction by the conclusion of 2025. In a discussion with Bloomberg, Garlinghouse mentioned that a spot XRP ETF could be sanctioned in the latter half of 2025. Toncoin (TON) Value Forecast for March 26th
