XRP Options Open Interest Reaches Peak Point. Here's the Significance

XRP’s derivatives market is seeing a sharp rise in activity as open interest in options climbs toward $100 million.

A recent CoinDesk post highlighted the development, noting that total notional open interest on Deribit reached $97.97 million on July 8. This is the highest level in over a year and just shy of the June 2024 record of $102.3 million.

The increase represents a 38% jump in two weeks, driven largely by traders seeking to benefit from short-term price fluctuations. Contract volumes have also expanded, climbing 26% to 42,414 contracts according to data from Deribit Metrics. Each contract on Deribit represents 1,000 XRP, further underlining the scale of activity in recent weeks.

Implied Volatility Outpaces Major Tokens

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XRP derivatives have seen a big jump in 2025. A key factor behind the surge is XRP’s elevated implied volatility. According to Coindesk’s report, Lin Chen, Deribit’s head of Asia business development, noted that XRP’s implied volatility has surpassed BTC, ETH, and SOL. He also pointed out the token’s annual return of more than 300% as a reason for its growing appeal among options traders.

High volatility raises options premiums, attracting traders who sell cash-secured puts while holding stablecoins to cover potential XRP purchases. Additionally, technical signals reinforce this sentiment, as XRP has just delivered a major technical signal by closing above its 20‑week moving average.

Market Sentiment Leans Bullish

Coindesk referenced data from Amberdata showing that XRP’s 25-delta risk reversals are positive across multiple expiries, reflecting bullish sentiment. Currently, over 30 million call options are open compared to 11.92 million puts, resulting in a put-call ratio of 0.39.

This skew toward call options suggests that traders expect further upward movement in XRP’s price or are hedging against potential rallies. The preference for bullish positioning has been consistent across both short-term contracts and those expiring in August and September.

Momentum Builds Amid Speculative Interest

The growing interest in XRP options reflects a broader trend of speculative activity in the crypto derivatives market. As traders respond to volatility, open interest levels are approaching their previous highs.

Broader market narratives support this bullish momentum, as a recent Times Tabloid report outlined a historic lineup of bullish developments for XRP in 2025, including moves by Ripple on blockchain and regulatory fronts.

For now, XRP remains one of the most active tokens in options markets, with heightened volatility and the anticipation of a breakout continuing to drive investor participation. The coming weeks could see further increases in open interest as traders seek to capitalize on rapid price movements and elevated premiums.

Disclaimer*: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.*