XRP Faces Bearish Bets Despite ETF Speculation and Strong Liquidity

XRP is attracting renewed ETF speculation, but options traders aren’t buying the hype—at least not yet.

Following bitcoin and ether’s successful spot ETF listings in the U.S., market analysts this week flagged XRP as a likely candidate to follow, citing its robust order book depth and utility in Ripple’s global payments network. XRP’s liquidity outpaces rivals like Solana (SOL), making it a strong contender for institutional product inclusion.

But beneath the surface, options data is flashing caution. According to Amberdata, XRP put options on Deribit are consistently more expensive than their call counterparts across multiple timeframes—a clear sign that downside protection is in higher demand.

This pricing imbalance, known as negative options skew, typically reflects bearish sentiment or a desire to hedge against potential declines. Traders use puts to either speculate on price drops or to insure existing long positions.

Technically, XRP’s recent drop out of an ascending wedge pattern adds weight to the bearish outlook, with chart signals pointing to a potential re-test of the $1.60 support zone.

So while ETF optimism is building, professional traders aren’t fully convinced. The options market tells a different story—one where caution still outweighs conviction.