XRP Price Holds at $2.14 as Traders Shift From Futures to Options

XRP futures volume dropped by over 51%, signaling reduced speculative activity in the short term.

Both the volume and open interest in the options market spiked by about 122% and 179% respectively.

The cost of XRP is $2.14 and falls within a range of $2.13 at the bottom to $2.20 at the top.

Futures markets for XRP have been quiet, but options activity surged over the last 24 hours. According to the latest market figures, the overall volume of XRP futures declined significantly by 51.05%, totaling $3.07 billion.

Meanwhile, open interest in futures declined by a slim 1.08%, valued at $3.94 billion. These figures suggest that futures trading activity is undergoing a cooling process, maybe reflecting a period of short-term traders' indecisiveness.

Options Market Sees Sharp Uptick

In contrast to the futures data, XRP options markets saw a substantial rise in activity. There was a 122.33% increase in options volume to $770.06K. Also, the total amount of options contracts bought or sold exceeded expectations, jumping 178.95% to reach $116,000. The rise in open interest hints that people are paying more attention to speculative or hedging strategies due to possible upcoming price changes in the market.

A difference between the amount of trading in futures versus options could indicate investors are making different types of moves. While activity in futures contracts is declining, more people are trading options. This often signals that big moves in the market could happen soon. Analysts view this as a possible sign that sentiment is evolving, with traders seeking to leverage positions without committing to the same level of risk associated with futures contracts.

Price Holds Steady Within Narrow Range

XRP’s value is $2.14 today which is 0.4% higher than yesterday’s price. The asset has remained within close 24-hour range this day, from a support level at $2.13 to a resistance cap at $2.20. The small price movement and limited range reflect the broader slowdown in futures volume but also align with increased options positioning, which often occurs in anticipation of potential breakouts.

Outlook Remains Cautious

While futures have been quiet, options activity suggests people in the market are getting ready for sharp moves in prices. It is unpredictable if the current resistance will be passed or if the market will fall further. As of now, market sentiment appears mixed, with traders adopting a cautious but strategic approach.

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