Cryptocurrency focused on XRP payments
increased by more than 3.5% in the last 24 hours, with a volume on the market of options classified by deribia, which suggests bullish expectations.
Since July 1, higher level call options on July 25 at $ 3.00 and $ 4.00 strikes and the September 28 expiration call during the $ 2.80 strike has become the most negotiated bets, according to the Amberdata data source.
A purchase option gives the buyer the right to buy the underlying assets at a predetermined exercise price on a later date. The option represents an optimistic view of the market. For example, the $ 3 strike call buyer bets that the cash price of XRP will reach this level by July 25. In derived, an optional contract represents an XRP.
A more in -depth examination of flows reveals that the higher volume classification for calls of $ 3 comes mainly from the purchase trades. In the past 24 hours, the $ 3 strike call saw 2 million contracts change hands in the investor shopping trades (Market Kakers on the opposite side). Conversely, investors were mainly sellers or writers in the call of $ 2.8.
The $ 3 call is also the most popular bet in terms of increasing open interest, or the number of active or open contracts in the last seven days.
The increased activity in higher striking calls follows expectations to strengthen expectations for the ETF’s beginnings in the United States, according to Bloomberg analysts, Eric Balchunas and James Seyffart, the probability that the American dry approves an ETF XRP spot is now 95% – almost a concluded transaction.
Wednesday, Fintech Ripple, which uses XRP to facilitate cross -border transactions, announced that it had requested a national banking license at the office of the Currency Controller (OC).
“If it is approved, we would have both states (via nydfs) and federal surveillance, a new (and unique!) Benchmark for Trust in the Stablecoin Market, “said Ripple CEO, Brad Garlinghouse, on X.
XRP / BTC breakout
The price called by XRP bitcoin, represented by the XRP / BTC pair, listed in binance, can be directed above, after having burst out a falling corner model.
The corner of the fall is a bullish reversal scheme, characterized by two convergent trend lines which indicate a range of narrowed price movement. The converging nature of the trend lines suggest that sellers slowly lose steam. Consequently, a later decision above the higher trend line confirms the domination of renewed bulls.
XRP / BTC has exceeded the higher trend line, confirming the bullish break. The scheme indicates that the correction of the April summits has ended and that the wider XRP bullish trend has resumed.
Although the corner break indicates that the slightest resistance path is on the upper side, popular averages, SMAs of 50 days, 100 days and 200 days in disagreement.
SMAS of 50 and 100 days are both south, after recently crossed the 200 -day SMA. Note, however, that the mobile averages are trained indicators and go back to the bullish corner rupture.
Read more: Ripple applies to the Charter of Federal Banking Trust, XRP jumps 3%
