This week, the XRP market saw significant activity on derivatives desks, with futures and options leading the way while spot prices remained steady around the $2.90 mark. The derivatives market for XRP has been particularly active, with traders closely watching key levels and setting their sights on potential price targets.

In the world of XRP derivatives, calls for the cryptocurrency to reach the $3 to $4 range have been gaining traction, indicating growing optimism among traders. This bullish sentiment has been reflected in the increased activity in XRP futures and options contracts.

Futures trading for XRP has seen a surge in open interest, with the total amount reaching approximately $7.64 billion across various trading platforms. This translates to around 2.66 billion XRP notionally traded in futures contracts. The high level of open interest suggests that traders are actively participating in XRP futures, either to hedge their positions or to speculate on price movements.

On the options side, traders are eyeing potential price targets in the $3 to $4 range, with call options crowding around these levels. Call options give traders the right to buy an asset at a predetermined price within a specified timeframe, indicating that traders are betting on XRP's price to rise above these levels in the near future.

The increased activity in XRP derivatives underscores the growing interest in the cryptocurrency market, as traders seek to capitalize on potential price movements and volatility. Derivatives trading allows investors to manage risk, speculate on price changes, and gain exposure to assets without owning them outright.

As XRP continues to consolidate around the $2.90 pivot point on spot exchanges, the derivatives market provides an alternative avenue for traders to engage with the cryptocurrency. The combination of futures and options trading offers a diverse range of strategies for traders to navigate the market and take advantage of various opportunities.

Overall, the heightened activity in XRP derivatives reflects the dynamic nature of the cryptocurrency market, with traders closely monitoring key levels and positioning themselves for potential price movements. As XRP remains a popular choice among traders, the derivatives market is likely to continue playing a significant role in shaping the cryptocurrency's price trajectory in the coming weeks.

Source: https://news.bitcoin.com/futures-depth-option-bets-xrp-derivatives-signal-range-with-upside-kicker/