Amid hopes for XRP ETF approval…"Options traders overwhelmingly bullish"

With growing expectations of approval for a spot XRP (XRP) exchange-traded fund (ETF), option traders are reportedly leaning toward a bullish outlook.

On the 8 (local time), CoinDesk said, "Deribit XRP call options are trading at higher prices than put options across all expiries," adding, "in particular, December call options carry the largest premium over puts." It added, "This indicates traders expect an XRP rally by year-end."

The possibility of a spot ETF approval was cited as the reason for the anticipated rally. The outlet reported, "Expectations for approval of a spot XRP ETF in the U.S. are on the rise," and said, "the U.S. Securities and Exchange Commission (SEC) could simultaneously approve multiple XRP ETFs around the end of October."

A positive price outlook was also offered. Prominent XRP supporter Pimpious tweeted on X (formerly Twitter), "If an XRP ETF is approved, more than $5 billion could flow in during the first month," and predicted, "XRP price could reach $50 by year-end."

As of 4:45 PM, on the Binance USDT market XRP is trading at $2.9, up 2.50% from 24 hours earlier.