Ripple news: XRP hovers near $14 million options battleground that could sway trading
XRP is trading near a $14.6 million options cluster at $1.40 on Deribit, which could significantly influence its short-term price action.Summary
XRP is currently trading around $1.50, just above a significant concentration of options activity on the Deribit exchange at the $1.40 strike price. This cluster involves approximately $6.95 million in call options and $7.69 million in put options, totaling about $14.6 million, representing nearly 25% of all open XRP options on the exchange, mostly expiring on March 27.
This unusual clustering suggests the market is approaching a key inflection point, where the $1.40 level could act as a gravitational magnet as expiry nears. Market makers with short gamma exposure might dynamically hedge their positions, potentially 'pinning' the price toward this strike.
Traders must watch $1.40 closely; a sustained move above it could cause put options to expire worthless, while a drop below could trigger hedging flows that amplify selling pressure, heavily influencing XRP's short-term trajectory.
(Source：CoinDesk)