XRP hovers near $14 million options battleground that could sway trading

XRP is trading around $1.50, just above a key options cluster at $1.40 on Deribit.

“XRP hovers near $14 million options battleground that could sway trading XRP is trading around $1”

@coindesk

About $14.6 million in open interest is concentrated at this strike, nearly 25% of all XRP options on the exchange.

@coindesk

XRP (XRP) is trading just above a level heavily targeted by derivative traders, making it a critical zone for near-term price action.

The payments-focused cryptocurrency changed hands at around $1.50 at press time, placing just above a notable concentration of options activity at $1.40 on crypto exchange Deribit.

Options are derivatives contracts whose value is derived from an underlying asset, in this case XRP.

They give traders the right, but not the obligation, to buy or sell XRP at a specific price (known as the strike) before a set expiry date.

Call options are typically used to bet on upside, while put options are used to hedge or speculate on downside.

As of writing, about $6.95 million worth of call option positions were open at the $1.40 strike, alongside $7.69 million in put positions at the same level.

In total, that brings the value of outstanding or open contracts at this strike to roughly $14.6 million, or nearly 25% of all XRP options open on the exchange.

Most of this open interest in concentrated in the March 27 expiry.

CoinDesk reached out to Deribit for a comment on the same.

This kind of clustering at a single strike is unusual and typically signals that the market is approaching a key inflection point.

As expiry approaches, this level may act as a magnet or gravitational price zone.

Market makers, and traders who sold options at $1.40 and are short gamma could dynamically hedge their exposure, potentially pulling the price toward the strike.

This phenomenon is widely referred to as pinning.

This concept is common in currency markets, where major currency pairs like EUR/USD often gravitate toward large strikes as expiry nears.

Traders, therefore, need to watch $1.40 level closely in the days ahead.

A sustained move above it could leave much of the put-side open interest to expire worthless, while a drop below it could trigger hedging flows that amplify selling pressure.

Either way, the heavy concentration of options at this strike suggests that XRP's short-term price action could be heavily influenced by how this open interest unwinds or gets settled.

Most of this open interest in concentrated in the March 27 expiry.

This kind of clustering at a single strike is unusual and typically signals that the market is approaching a key inflection point.

@coindesk

As expiry approaches, this level may act as a magnet or gravitational price zone.

Market makers, and traders who sold options at $1.40 and are short gamma could dynamically hedge their exposure, potentially pulling the price toward the strike.

This phenomenon is widely referred to as pinning.

This concept is common in currency markets, where major currency pairs like EUR/USD often gravitate toward large strikes as expiry nears.

Traders, therefore, need to watch $1.40 level closely in the days ahead.

A sustained move above it could leave much of the put-side open interest to expire worthless, while a drop below it could trigger hedging flows that amplify selling pressure.

Either way, the heavy concentration of options at this strike suggests that XRP's short-term price action could be heavily influenced by how this open interest unwinds or gets settled.

Bitrefill accuses North Korea-linked Lazarus hacker group for compromising 18,500 purchase records.

“XRP hovers near $14 million options battleground that could sway trading XRP is trading around $1”

@coindesk

Bitrefill will cover the losses from operational capital.

Bitrefill said a March 1, 2026 cyberattack linked to North Korea's Lazarus Group compromised parts of its infrastructure, drained some hot wallets and exposed about 18,500 purchase records.

The breach began with a compromised employee laptop that revealed legacy credentials, allowing attackers to access production keys, exploit gift card supply chains and move funds before the company took systems offline.

Bitrefill will cover the losses from operational capital.

Traders, therefore, need to watch $1.40 level closely in the days ahead.

A sustained move above it could leave much of the put-side open interest to expire worthless, while a drop below it could trigger hedging flows that amplify selling pressure.

@coindesk

Either way, the heavy concentration of options at this strike suggests that XRP's short-term price action could be heavily influenced by how this open interest unwinds or gets settled.