XRP Surges 12% as Traders Bet on Big Price Swings with ‘Straddle’ Strategy

BTC$116,790.93

and ether (ETH). This double-digit gain has lifted XRP’s price to $3.32, its highest level since July 28.

The price upswing has been underpinned by sophisticated, anticipatory block option trades on Deribit, involving a bullish bet on volatility. Block trades are large transactions executed over-the-counter and outside of the public order book to minimise their impact on the prevailing market price of an asset.

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