The 24-hour trading volume of Ripple’s native token XRP has soared 200%, hitting a new weekly high at $3.03. This week, its daily trading volume reached $1.7 billion and has now surpassed the threshold of $5 billion. Investors are now taking profits from their XRP calls options, which expire in September. Most of the call options were placed between June and July when its price hovered around $2.10
Options traders made strike calls of $3, $3.5 and $4 on XRP contracts that expire in September. Data from Deribit Amberdata, around 2 million contracts are set to expire before September 28, 2025. As the trading day approaches, traders book profits and change hands, resulting in a 200% increase in volume.
XRP is now trading at a range of $2.95 and below $3 as the selling continues. It is likely that XRP will continue to fall until all of the options expire at the end September. Ripple’s native coin is volatile, so it would be best to keep a distance at this time.
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Will Ripple’s XRP Rise Above $4?
Ripple’s price XRP is unlikely to rise above $4. Options traders who placed $4 strike calls in June only reached $3.65. This was altcoin’s all-time highest and it was at this time that money started to flow in. Money is flowing out now, so the token may not rise as high as it did from June to August.
If it drops below $2.70, you should consider taking a long position. This is a good entry point as XRP will be at a lower price. The rewards could be great if you hold on to this price for the long-term.
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Source: watcher.guru
