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

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email 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. By Omkar Godbole Mar 18, 2026, 5:58 a.m. Make us preferred on Google XRP trades close to $14 million options cluster. (Gerd Altmann/Pixabay) What to know : XRP is trading around $1.50, just above a key options cluster at $1.40 on Deribit. About $14.6 million in open interest is concentrated at this strike, nearly 25% of all XRP options on the exchange. 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. XRP is used by Ripple to facilitate cross-border transactions. 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. XRP options: Distribution of open interest. (Deribit Metrics) 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. XRP News Ripple More For You Bitcoin's rally faces key hurdle with Wednesday's Fed meeting By Krisztian Sandor | Edited by Stephen Alpher 9 hours ago Hot PPI inflation data in the morning and hawkish remarks by Powell in the afternoon would be the most damaging combination for risk assets, including crypto, Bitfinex analysts said. What to know : Bitcoin pulled back to around $74,000 Tuesday, failing to hold an overnight gain to the $76,000 area. While no one expects the Fed to move rates at its Wednesday meeting, the bank's and Chairman Jerome Powell's tone regarding the inflation outlook could prove a catalyst. A hawkish tone alongside hot PPI inflation data could weigh on equities and crypto, but Powell's signal that the Fed is treating rising oil prices as a temporary shock could extend the crypto rally, analysts said. Read full story Latest Crypto News Stratton wins Illinois Senate primary, defeating crypto-backed Krishnamoorthi 2 hours ago Senator Tim Scott says market structure negotiations are advancing 8 hours ago Bitcoin's rally faces key hurdle with Wednesday's Fed meeting 9 hours ago U.S. SEC issues first-ever definitions for what crypto assets are securities 9 hours ago Mastercard's $1.8 billion deal 'a clear answer' to a massive shift in the global payment war 10 hours ago Arizona Attorney General files criminal charges against prediction market Kalshi 12 hours ago Top Stories Strategy’s latest massive bitcoin purchase offers insight into its evolving funding model 14 hours ago Sam Altman's World teams up with Coinbase to prove there is a real person behind every AI transaction 14 hours ago Popular Solana wallet Phantom wins CFTC nod to access regulated derivatives markets 14 hours ago U.S. Democrats target government officials gaming prediction markets on war action 15 hours ago