XRP is once again capturing media attention, with its trading price exceeding $2. Investors are contemplating the potential for ETF approval in the U.S., yet short-term prospects are in question.
What's Next For XRP Price?
Despite the growing interest in XRP, options data tells a different story. On Deribit, traders appeared more inclined to purchase put options, which typically indicates fear of price declines. The current situation with a "negative options skew" reveals that demand for puts exceeds that for calls, indicating trader uncertainty regarding XRP's short-term performance.
XRP ETF News: Stability from Strong Order Book
Amidst some uncertainty, XRP showcases a strong order book depth, providing stability during large trades. This liquidity advantage could play an important role in XRP's ETF discussions. Ripple continues to promote XRP as a solution for international payments, a practical application that many altcoins lack.
Will XRP Price Hit ATH?
ETF optimism offers XRP supporters hope for future achievements. However, short-term traders approach the situation cautiously, awaiting clearer signs of upward momentum. Crypto analyst EGRAG CRYPTO believes that this week could be a game-changer for XRP, pointing out that the weekly candle is above the key $2.10 level, potentially indicating positive changes.
Currently, XRP finds itself in a state of limbo, caught between long-term hopes and short-term fears. The close of this week's candle may determine the direction XRP takes.
