XRP $3 Strike Call Options Dominate Trading Volumes Amid Bullish XRP/BTC Technical Outlook
July 3, 2025 – XRP has seen a notable rally recently, climbing over 3.5% in the past 24 hours as investor optimism grows in both spot and derivatives markets. This momentum is highlighted by the surge in trading volumes for XRP call options, particularly the $3 strike call set to expire in late July. Meanwhile, technical analysis of XRP’s price against Bitcoin (XRP/BTC) indicates a bullish breakout, suggesting the potential for further upward price action.
XRP Options Market Sees Increased Activity at $3 Strike Price
Data from Deribit and Amberdata reveal that since July 1, call options on XRP with strike prices of $3.00 and $4.00 for July 25 expiry and the $2.80 strike for September 28 expiry have become the most traded contracts. The $3 strike call option, in particular, has dominated recent activity, with approximately 2 million contracts traded in buy trades over the last 24 hours alone.
Call options give buyers the right to purchase XRP at a specified strike price before expiration. A high volume of buy-side activity at the $3 strike signifies widespread anticipation that XRP’s price will rise above this level by the option’s expiry date. These flows indicate strong bullish sentiment among traders and speculators.
Interestingly, the $3 strike call option also leads in terms of growing open interest—the number of active positions in the market—pointing to sustained investor conviction.
U.S. Spot ETF and Ripple’s Banking License Application Fuel Market Optimism
The surge in bullish options activity comes amid heightened expectations for a potential U.S. spot XRP exchange-traded fund (ETF) approval. Analysts at Bloomberg, Eric Balchunas and James Seyffart, recently estimated a 95% probability that the SEC will greenlight a spot XRP ETF, marking near certainty in regulatory approval.
Adding to the positive outlook, Ripple Labs, the fintech company that heavily utilizes XRP for cross-border payments, announced it has applied for a national banking license with the Office of the Comptroller of the Currency (OCC). Ripple’s CEO Brad Garlinghouse stated that gaining federal regulatory oversight alongside state regulation would establish a “new (and unique!) benchmark for trust in the stablecoin market.”
These developments are seen as major catalysts underpinning XRP’s price strength and fueling speculation on further gains.
XRP/BTC Chart Signals Bullish Breakout Despite Mixed Moving Averages
From a technical perspective, XRP’s performance against Bitcoin, captured by the XRP/BTC trading pair on Binance, indicates a potentially strong bullish phase. The daily chart demonstrates a breakout above the upper boundary of a falling wedge pattern—a reversal pattern often signaling a transition from downtrend to uptrend.
The falling wedge reflects contracting price volatility and waning selling pressure, with the breakout serving as confirmation that buyers are taking control. This breakout strongly suggests that the correction from XRP’s April highs has concluded and the broader upward trend is resuming.
However, moving averages tell a slightly more cautious story. The 50-day and 100-day simple moving averages (SMAs) have recently crossed below the longer-term 200-day SMA, traditionally a bearish signal. Analysts note that moving averages are lagging indicators and in this case, the bullish wedge breakout carries more immediate weight.
Broader Crypto Market Context
XRP’s current rally is accompanied by positive movements across other leading cryptocurrencies. Bitcoin (BTC) trades near $110,000, up 2.13%, while Ethereum (ETH) surged 6.27% to $2,602.93. Altcoins such as SOL, DOGE, ADA, and AVAX all posted gains ranging from 4% to nearly 9%, indicating broad-based market strength.
Outlook
Investor positioning in XRP options, combined with favorable technical patterns and encouraging regulatory progress, sets a bullish tone for XRP in the near term. While cautious observers will monitor the contrary moving average signals and broader market conditions, the prevailing sentiment favors potential further rallies toward and beyond the $3 price level that traders are actively targeting.
Omkar Godbole, CoinDesk Markets Co-Managing Editor, contributed this report. For more insights, sign up for the Crypto Daybook Americas Newsletter.
Prices as of July 3, 2025, 7:25 a.m. UTC.
Crypto Prices Snapshot:
- Bitcoin (BTC): $109,982.47 (+2.13%)
- Ethereum (ETH): $2,602.93 (+6.27%)
- XRP: $2.2804 (+4.26%)
- Binance Coin (BNB): $663.30 (+0.71%)
- Solana (SOL): $155.61 (+4.74%)
Source: CoinDesk, Deribit, Amberdata, TradingView