While Bitcoin and altcoins have been on the rise for the last week, XRP has been one of the altcoins that has experienced a significant increase in this rise.
XRP has gained 29% in the past week, reaching $0.653, but options traders are expecting more gains.
Accordingly, Deribit's XRP options market is in an uptrend and is showing an increasing bullish trend among investors.
According to the data, the $0.9 call option is the most popular among option traders, indicating that investors expect the XRP price to rise above $0.9.
There are more than 5.6 million open contracts worth $3.6 million, according to Amberdata data, with most of the call options concentrated at the Nov. 29 expiration date.
Investors also showed significant interest in $1 and $1.1 options expiring on Dec. 27, a sign that the rally is expected to continue through the end of the year, the data showed.
Experts evaluating the XRP price stated that breaking the critical resistance level of $ 0.65, which XRP has not been able to break for a long time, could accelerate the rise in the XRP price and potentially provide a rapid rise towards $ 0.9 or $ 1.
*This is not investment advice.
