XRP Rallies as ETF Optimism and Bullish Options Surge

XRP has surged over 3.5% in the past 24 hours, with Deribit options data signaling strong bullish sentiment. High-volume trading in call options, particularly the July 25 $3.00 and $4.00 strikes and the September 28 $2.80 strike, suggests traders expect XRP to break higher soon. The $3 call option, which gives holders the right to buy XRP above that price by expiry, saw 2 million contracts in buyer-initiated trades, reflecting growing optimism.

Open interest in the $3 call also rose significantly, reinforcing its popularity among bullish investors. Meanwhile, the $2.80 call saw more selling activity, indicating traders believe XRP could surpass that level with ease.

Fueling the momentum is the heightened expectation for a U.S. spot XRP ETF approval. Bloomberg analysts Eric Balchunas and James Seyffart estimate a 95% chance of SEC approval, a major catalyst for the asset. In a parallel move, Ripple announced it has applied for a national banking license with the U.S. Office of the Comptroller of the Currency (OCC), aiming for both state (via NYDFS) and federal oversight—a milestone that could boost trust in XRP-linked stablecoin offerings.

Technically, XRP is showing signs of further upside. On Binance, the XRP/BTC pair broke out of a bullish falling wedge pattern, typically signaling the end of a correction and resumption of an upward trend. Although the 50-day and 100-day SMAs are still trending below the 200-day SMA—a bearish sign—these are lagging indicators and are currently outweighed by the breakout signal.

With ETF approval expectations, rising options activity, and a bullish technical breakout, XRP appears poised for further gains. Investors are watching closely as XRP tests key resistance levels in the days ahead.