The XRP derivatives market is showing a significant increase in activity, with open interest in options reaching nearly $100 million. This surge is attracting trader interest and creating a foundation for optimistic expectations.
Surge in Open Interest in XRP Options
As of July 8, the total open interest in XRP options on Deribit stood at $97.97 million, the highest level in over a year and approaching last year's record of $102.3 million. This marks a 38% increase over two weeks, primarily driven by traders aiming to capitalize on short-term price fluctuations.
Elevated Implied Volatility
In 2025, XRP derivatives have experienced a notable increase, largely due to the token's high implied volatility. According to CoinDesk, XRP's implied volatility has surpassed that of BTC, ETH, and SOL, with its annual return exceeding 300%, making it more attractive to traders.
Bullish Market Sentiment
Data from Amberdata shows that XRP's 25-delta risk reversals are positive across multiple expirations, reflecting bullish sentiment. Currently, there are over 30 million call options open compared to 11.92 million puts, resulting in a put-call ratio of 0.39.
The overall market sentiment for XRP points to increased trader interest in options, which may lead to a further rise in open interest in the coming weeks as participants seek to take advantage of active price movements.
