XRP is heavily shorted amid Middle East tensions, but investors remain hopeful for a big rebound

In the past 24 hours, the options market $XRP has recorded a trend of betting on a price decline as tensions between Iran and Israel shake the global financial markets. On the Deribit exchange, many investors predict XRP will drop by about 5%, amid rising oil prices, a falling S&P 500, and related crypto stocks like Coinbase, Strategy, and Circle all losing value.

Currently, XRP is trading at $2.15, down 1.1% for the day and nearly 7% over the past week. On Polymarket, 61% of players believe XRP will fall to $2 before the end of the month.

However, there still exists a long-term buying force in the market. Of the total $92 million in open options contracts, about 70% are call orders, meaning bets on price increases. The most common target price is $2.30, about 6% higher than the current price. Notably, a significant portion of September orders is targeting $4.20, suggesting expectations for XRP to reach a new peak.

In addition to geopolitical factors, the outcome of the lawsuit between #Ripple and the SEC is also a major variable. If Ripple wins the case, many analysts believe XRP's price will rebound strongly.

Furthermore, the likelihood of an XRP ETF being approved in 2025 is currently predicted to have a success rate of up to 90% on Polymarket – a factor that could provide strong growth momentum for XRP in the medium term. #anhbacong