XRP surges 4% as March options attract heavy call interest

Traders expect the price of XRP to increase, which leads to an increase of more than an increase of 4%, because many purchase options benefit if the price remains above a certain level in March.

XRP (Xrp) climbed $ 4% to $ 2.41 on Friday, March 21, while optional traders focused on calls in the field, which gave open interest. According to deribit data, options of options “accumulate in the expiration of March 28, where ITM calls stage an open interest”.

The rally followed the announcement of the CEO of Ripple, Brad Garlinghouse, that the American commission for securities and the exchange would abandon its appeal in the long -standing trial against the company. In A post XGarlinghouse said that the DRI’s decision to delete its legal action marks a turning point for XRP, noting that the commission should still vote on the issue, leaving a certain uncertainty.

The legal battle weighed on XRP since 2020, with numerous exchanges delimiting the token. Now, traders seem to bet on more than the increase. Despite the initial wave, a certain caution remains. Like crypto.News reported Earlier, analysts indicate a key support at $ 2,2653, with a break below the potential signaling of a trend reversal. However, technical indicators suggest that other gains are possible.

The feeling of the market also shows mixed signals. Coinglass data indicate that the long / short ratio for XRP exceeds 1 on most derivative exchanges, suggesting bull. But financing rates have become negative, often a lowering sign.

Earlier, Garlinghouse referred to more developments in advance, mentioning the possibility of an XRP ETF at the end of 2025. In an interview with Bloomberg, Garlinghouse said that an ETF approval of the XRP spot is likely to the second half of 2025.