[코인리더스] Ripple, $0.9 call option betting popular among bullish expectations

There is a growing trend among traders in the new alternative market for Ripple (XRP) listed on virtual asset exchange Deribit.

CoinDesk, a cryptocurrency media outlet, cited data from Amberdata and found that the $0.9 call option is the most popular in the Ripple options market. The $0.9 call option has more than 5.6 million active contracts, with a total value of $3.6 million.

The $0.9 call option, which is mostly centered on options expiring on November 29 (local time), is a bet that reflects the expectation that Ripple will break through $0.9.

As of the December 27 expiration date, significant open interest was also recorded in call options with strike prices of $1 and $1.10. Accordingly, the media has raised the possibility that Ripple’s strength will continue through the end of the year.

FX Street, an investment media outlet, explained that $3.98 million worth of futures contracts were canceled in the past 24 hours. Out of this long position liquidation is $2.95 million and short position liquidation is $1.03 million.

Next, presenting the Ripple chart from TradingView, it is noted that Ripple has broken through the 200-day simple moving average (SMA) and the upper resistance of the main downtrend channel over the weekend. On the 12th (local time), Ripple broke the $0.645 resistance, suggesting the possibility of continuing its further upward trend towards $0.74.