🚨 XRP Hits $14M Options Battleground - $1.40 Is the Line
$XRP is hanging around $1.50, but all eyes are on the $1.40 options strike on Deribit. Why? About $14.6M in open interest is clustered here - almost 25% of all XRP options on the exchange. 💥
Call holders are betting upside, put holders are hedging or
speculating on a drop. As expiry on March 27 approaches, this level could act like a magnet, with market makers hedging dynamically - a classic “pinning” scenario. 🧲
What it means for traders:
• A push above $1.40 could render most puts worthless, favoring bulls.
• A drop below $1.40 may trigger automatic hedging flows, amplifying selling pressure.