“Xrp’s Recent Price Movement Suggests A Possible Re-Test of Lows AROUND $ 1.6, Despite Its Strong Order Book Depth.”, – WRITE: www.coindesk.com
As of the time of writing, deribit’s put options tied to xrp were pricier than Calls Across Several Timeframs, Accounting To Data Source Amberdata. That’s a sign of personstodside fears.
A Put Option Provides Insurance Against Price Drops, and Traders Purchase The Same Looking to Hedge or Profit From An Expected Price Drop.
The Bias for Puts Was Evident from Negative Skews Across The TimeFrams. Options Skew Measures the Implied Volatility Premium (Demand) for Calls Relativ to Puts.
Xrp Dived Out of An Ascending Wedge Early Wednesday, Signaling A Possible Re-Test of Recent Lows at At AUND $ 1.6.
Earlier this Week, Analysts SAID THAT XRP HAS A RELATIVELY BETTER ORDER BOOK DEPTH, IMPLYING EASE IN TRADING LARGE ORDERS AT STABLE PRICES, Compared to Solana’s Sol and Other. This Meant that the Payments-Focused Coin Used by Ripple to Facilitis Cross-Border Transactions Could Be the Next Digital Asset to Get A Spot etf Approval in The Us
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