Mystery traders are placing massive bets on XRP (Ripple) volatility, sending the token soaring 12% in 24 hours.
XRP just pulled off a stunning 12% rally in the last day, leaving both Bitcoin and Ethereum in the dust. The token hit $3.32 – its best performance since July 28 – and here's the kicker: someone saw this coming.

Behind this surge sits some serious Wall Street-level action on Deribit. We're talking about massive "straddle" trades that cost a fortune but could pay off big if XRP goes crazy in either direction. This isn't your average retail FOMO – these are calculated moves by traders who clearly know something.
XRP Price Explosion Backed by $416K Options Bet
Thursday's action was wild. Someone dropped over $416,000 on 100,000 XRP option contracts, betting the price would swing hard by August 29. They grabbed both calls and puts at $3.20, which basically means they're making money whether XRP moons or crashes – as long as it moves big.
Another similar trade hit at the $3.10 level, doubling down on the volatility play. These aren't lucky guesses – they're strategic bets from institutional players who clearly expect fireworks.
"XRP has outperformed BTC this year, and we are now seeing a surge in block trades and institutional interest in XRP options," Lin Chen from Deribit told CoinDesk. The exchange even launched new year-end XRP options to meet demand.
Perfect timing too. The SEC and Ripple just agreed to drop their court appeals on Thursday, finally ending their legal drama. That regulatory cloud hanging over XRP? Gone.
Why Smart Money Loves XRP (Ripple) Price Straddles Right Now
Here's why straddles are genius: you win big if the price explodes in any direction, and your losses are capped at what you paid upfront. These traders paid their premium and now they're sitting back waiting for chaos.
The math is simple – XRP needs to move enough to cover that $416,000 premium plus some profit. Given how crypto moves, that's totally doable. And with the legal stuff cleared up and institutions piling in, XRP looks ready to deliver exactly the kind of volatility these traders are betting on.