<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/investors-eye-xrps-potential-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Eye XRP’s Potential Surge</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/xrp-whale-movements-continue-amid-price-increase" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> options market, particularly the $1.10 call options on the Deribit exchange, has recently garnered substantial interest. Investors are speculating that XRP’s price will double by month-end, with open interest standing at 4.347 million contracts valued at $2.44 million. This is noteworthy for a market that was launched only five months ago.</p>
<h2 id="what-drives-etf-optimism">What Drives ETF Optimism?</h2>
<p style="text-align: justify">Data from Amberdata suggests that the high open interest in XRP options expiring on August 28 may indicate optimism around a potential spot ETF for XRP. Griffin Ardern, head of options trading and research at BloFin, highlighted that the situation represents a clear long position.</p>
<p style="text-align: justify">Griffin Ardern believes that if XRP surpasses the $0.75 resistance level within the last two weeks of the month, its price could exceed $1.10. Moreover, speculation around a spot ETF application for XRP in the US is another significant factor that could lead to a notable price increase.</p>
<h2 id="how-realistic-is-the-1-10-target">How Realistic is the $1.10 Target?</h2>
<p style="text-align: justify">Despite a 30% rise to $0.62 last month, XRP has retracted some of those gains and is currently trading at $0.57. This suggests that investors remain cautious. Martin Cheung from Pulsar Trading Capital expresses skepticism about XRP reaching $1.10 by August 28, noting that while an ETF approval could boost XRP by 20%, the $1.10 target is ambitious.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">Here are some concrete insights for investors:</p>
<ul>
 <li>Keep a close watch on ETF-related <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">announcements</a> as they could significantly impact XRP prices.</li>
 <li>Monitor the $0.75 resistance level; breaking this could signal further gains.</li>
 <li>Be aware of the current optimism in the options market but strategize according to short-term market movements.</li>
</ul>
<p style="text-align: justify">In conclusion, while reaching the $1.10 level in the short term might be challenging, the continued interest in XRP options reflects a broader optimism in the cryptocurrency market. Cautious yet <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">strategic investments</a> could potentially yield favorable outcomes.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/investors-eye-xrps-potential-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Eye XRP’s Potential Surge</a></h5>

Investors Eye XRP’s Potential Surge

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