XRP IN THE EYE OF THE HURRICANE!
Implied Volatility Soars to 96%
Is a Mega-Swing of 13% on the Horizon as the U.S. Congress Debates the Crypto Future?
The price of #xrp could experience drastic movements this week, with the implied volatility of the token skyrocketing, suggesting a price swing of up to 13% either up or down.
This increase in uncertainty coincides with the "Cryptocurrency Week in Congress" at the U.S. Capitol, where the House of Representatives will debate crucial bills for the digital asset industry.
The seven-day implied volatility (IV) of XRP from Volmex Finance jumped to 96% annualized, a significant increase from last week's 73%.
This figure represents a considerable premium over XRP's historical seven-day volatility, which stands at 42%. In practical terms, this high IV value translates to an expected price swing of XRP of 13% over the next seven days.
Meanwhile, the market anticipates much lower volatility for #bitcoin
The seven-day implied volatility for the largest cryptocurrency has only increased slightly, sitting at 46% annualized, which equates to an expected weekly price swing of around 6%.
