# XRP Options Skew Reaches 95th Percentile With Upside Tilt

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/23445
Published: 2026-09-23T23:49:20.000Z
Updated: 2026-09-23T23:49:20.000Z

XRP options pricing shifted sharply toward upside exposure on Sept. 23, with the one-week 25-delta call-minus-put skew reaching 9.3 volatility points and the 95th percentile of its observed range.

At that level, comparable XRP calls carried 9.3 volatility points more implied volatility than puts. The measure compares implied volatility for out-of-the-money calls and puts with similar delta, showing how options pricing is tilted between upside and downside exposure.

Coinbase Markets described XRP options as “leaning toward upside convexity.”

A positive call-minus-put skew means traders are paying more for upside exposure. It does not mean XRP is expected to rise by the same percentage as the skew, and it does not establish the future direction of the asset’s price.

The reading contrasts with much of late 2025 and the first half of 2026, when XRP’s one-week skew was negative and at times fell below minus 10 volatility points. The measure briefly moved above 15 volatility points in late August before declining.

Options demand can reflect speculation, hedging or changes in market positioning. The skew therefore indicates a stronger relative premium for calls at the measured point, but it does not show whether traders are adding exposure for speculation, protection or another strategy.