An unexpected wave of optimism is sweeping over XRP as options traders are piling into $3 call options—a level considered ambitious just weeks ago. With approximately 2 million contracts traded on the July 25 expiry, the $3 strike sits front and center in options markets, signaling growing investor conviction that XRP may soon rally to new heights. Technical signals add fuel to this optimism, underscoring a notable shift in sentiment.
Since July 1, the $3 call option for July 25 has emerged as the most active strike traded for XRP, outpacing lower strikes like $2.80 and higher ones like $4.00. What’s more telling is the predominance of buy-side activity—investors are snapping up calls, placing bullish bets on XRP’s upside.
Open interest for these contracts has also climbed sharply over the past week. This suggests not just speculative interest, but strong capital commitment to the idea that XRP could breach the $3 level—a sentiment further bolstered by talk of a potential spot XRP ETF with a rumored 95% chance of SEC approval.
The optimism in options markets is matched by positive chart action. XRP’s XRP/BTC pair recently broke above a falling wedge pattern—a well-established reversal setup—suggesting that the downward pressure from April highs has eased and that bullish momentum is resuming.
However, XRP/USD charts remain tethered by resistance between $2.20 and $2.30—the ranges defined by key moving averages and historical pivot points. A sustained breakout above these levels would likely embolden the $3 call buyers and validate the bullish bets seen in options markets.
Beyond derivatives, on-chain and institutional metrics show strengthening support for XRP. Addresses holding between 1 million and 10 million XRP have risen notably since late 2024, now accounting for nearly 10% of token supply. Meanwhile, exchange-based holdings and open interest in futures indicate growing conviction .
Meanwhile, Ripple’s application for a United States national banking license with the OCC adds a layer of legitimacy to its institutional ambitions.
If XRP sustainably breaks above the $2.30–$2.40 zone, it would likely trigger momentum waves both in derivatives and spot markets. Current bullish sentiment, combined with the wedge breakout, points to a renewed appetite for risk, potentially validating the widespread $3 call options positions.
Still, there’s caution to be noted. On-chain activity has declined since early 2025, and open interest dipped close to 30% lower in mid-June. In other words, while a breakout narrative is taking shape, it’s building on a more compressed foundation—a breakout won’t guarantee immediate follow-through.
But if momentum does shift—and an ETF narrative gains traction—those who bought the $3 calls could find themselves well-positioned for outsized gains.
For XRP, the options and chart dynamics reveal a pivot away from sideways trading to upward ambition. This is not merely speculative chatter: it points toward systemic factors—like potential public trading products, on-chain accumulation by whales, and improving sentiment on Ripple’s institutional strategy.
It also highlights a broader theme: altcoins like XRP are benefiting from the spillover of structural support around crypto infrastructure—ETFs, staking, stablecoin clarity, custody frameworks. Even if XRP remains under $3, the groundwork is being laid.
XRP’s recent $3 strike call option surge and wedge chart breakout reflect a market in transition. Traders, institutions, and on-chain data all hint at a possible breakout—one that would challenge long-standing resistance and signal XRP’s emergence from its range-bound phase.
Still, XRP faces critical tests in the short term—especially around its $2.30–$2.40 zone. If it holds and builds momentum, the current atmosphere of optimism could translate into a sustainable rally. For now, though, it’s a case of cautious enthusiasm: the $3 bets may or may not pay off, but the market is clearly positioned for the possibility.