Following the Binance hack that shook the cryptocurrency market, Bitcoin fell to the $76,000 level, while altcoins also experienced significant pullbacks.
For BTC and altcoins, Coinbase has released options data for Bitcoin, Ethereum, Solana, and XRP.
At this point, Coinbase options data is giving some indications of how BTC, ETH, SOL, and XRP might perform until November 8th.
Options data published by Coinbase Markets suggests that BTC could experience a 5.8% price fluctuation; ETH a 7.7% fluctuation; and SOL and XRP an 8.7% fluctuation.
XRP’s Volatility Expected to be Above Historical Average!
The expected move of XRP, as priced into the seven-day options market, is at 8.7%.
Coinbase data shows that the median seven-day price movement of XRP in historical periods is 4.9%. Accordingly, the current volatility expectation for XRP has reached approximately 1.76 times the historical volatility of XRP.
This ratio represents the highest historical volatility premium for XRP among Bitcoin, Ethereum, Solana, and XRP.
According to Coinbase’s options data for the same period, Solana is also at the same level as XRP with an expected move of 8.7%. In contrast, this rate was measured at 7.7% for Ethereum and 5.8% for Bitcoin.
What’s Next for XRP?
The direction of the calculated 8.7% move for XRP is not yet clear. This is because implied volatility in the options market reflects investors’ expectations regarding the magnitude of price movements, and does not offer a definitive prediction of whether it will be upward or downward.
Given that XRP’s current price is around $1.25, an 8.7% move could mean an upward move to approximately $1.36, or a downward move to around $1.14.
*This is not investment advice.
