A crypto whale has made a $224,000 bet that XRP's price stays perfectly flat through June
CoinDesk
A large trader on Deribit executed a short straddle strategy, betting XRP will remain near $1.40 through late June to collect premiums.Summary
A significant investor has entered a $224,500 "short straddle" options position on the Deribit exchange, betting that the price of XRP will remain stable near the $1.40 mark until June 26. By selling both call and put options, the trader aims to profit from low volatility, though this strategy carries risks if the asset price moves sharply. The trade occurs amidst broader market uncertainty, including U.S. inflation concerns and the recent advancement of the "Clarity Act" by the Senate Banking Committee, which could impact the regulatory landscape for Ripple and the broader crypto market.
(Source：CoinDesk)