XRP cryptocurrencies focused on XRP payments
It has increased by more than 3.5% in the last 24 hours, with a volume in the market of options quoted in the baboo that suggest bullish expectations.
Since July 1, the July 25 call options on top level on strikes of $ 3.00 and $ 4.00 and the expiration call of September 28 in the $ 2.80 strike have become the most negotiated bets, according to the Amberdata data source.
A purchase option gives the buyer the right to buy the underlying asset at a predetermined exercise price at a later date. The option represents an upward vision of the market. For example, the $ 3 strike call buyer is betting that the XRP spot price will exceed that level before July 25. In Delibit, an option contract represents an XRP.
A closer look at the flows reveals that the highest volume classification for $ 3 calls is mainly derived from purchase operations. In the last 24 hours, the $ 3 strike call has seen that 2 million contracts change hands in investor purchase operations (Market manufacturers on the opposite side). On the contrary, investors have been mostly vendors or writers in the call of $ 2.8.
The call of $ 3 is also the most popular commitment in terms of the increase in open interest, or the number of active or open contracts, in the last seven days.
The greatest activity in the highest strike calls follows the expectations of strengthening a spot ETF debut in the USA. According to Bloomberg analysts, Eric Balchunas and James Seyffart, the probability that the SEC of the United States approves an XRP ETF spot is now 95%, almost a treatment made.
On Wednesday, the Fintech Ripple firm, which uses XRP to facilitate cross -border transactions, announced that it has requested a national banking license at the Office of the Comptroller of La Moneda (OCC).
“If approved, we would have both states (through NYDFS) and federal supervision, a new (And unique!) Benchmark for the confidence in the Stablecoin market, “said Ripple CEO, Brad Garlinghouse, in X.
Breakout XRP/BTC
The price called XRP Bitcoin, represented by the XRP/BTC torque that lies in Binance, can be headed higher, after having left a wedge pattern that falls.
The wedge that falls is a bull reversal pattern, characterized by two convergent tendency lines that indicate a range of pricing. The convergent nature of the trend lines suggests that sellers are losing steam slowly. Therefore, it is said that a subsequent movement above the higher trend line confirms the renewed domain of the bulls.
XRP/BTC has increased above the higher trend line, confirming the bullish rupture. The pattern indicates that the correction of the maximum of April has ended and the widest upward trend of XRP has resumed.
While the rupture of the wedge indicates that the lower resistance path is on the upper side, popular averages, SMA of 50 days, 100 and 200 days in disagreement.
Both the 50 and 100 days SMA are in southern trend, after having recently crossed below the 200 -day SMA. However, keep in mind that mobile averages are lagged indicators and take the rear seat to the breaking wedge.
Read more: Ripple applies to the Federal Charter Bank Trust, XRP jumps 3%
