The daily trading volume of Ripple $XRP increases by 56%: Bulls aim for a target price of $3.
Ripple (XRP) bulls are now focused on a target of $3, as call options with strike prices of $2.80 and $3 have seen an increase. Recent banking events favor a drastic price increase and bulls are making the most of the situation. The latest report shows that call options with a strike price have also reached $4, expiring on September 28, 2025, according to data from Deribit Amberdata.
A call option with a strike price of $3 has generated the exchange of 2 million contracts, but most sellers have placed a call option of $2.80. For those unfamiliar, a call option allows the buyer to acquire an asset at a predetermined strike price at a later date. The growing confidence and increasing risk appetite of the bidders represent a bullish outlook for Ripple's XRP.
The options contract highlights traders' optimism about the possibility of a rally and surpassing $3. A week ago, Ripple's XRP daily trading volume was at $2.7 billion. On Thursday, it reached a peak of $4.2 billion, resulting in a 56% increase in daily trading volume. The leading altcoin surged nearly 5% on Thursday and is attracting strong buying pressure from retail and institutional investors.
Its daily trading volume has skyrocketed by nearly 56%, as traders opened positions following recent banking events. This increase was reflected in its value, as Ripple's XRP reached a high of $2.30 during the trading session of the day. The charts for 24 hours, 7 days, 30 days, and 1 year have turned green with the wave of purchases. The altcoin could initiate a rally and maintain momentum up to $2.80 and $3.
