Coinbase Markets Research has identified an anomalous surge in XRP options trading, enabling traders to position on XRP’s price with defined expiration parameters. Based on the 25-week-delta call-minus-put skew, XRP’s options market posture has strengthened by 9.3 volatility points.
Interpreting Coinbase’s Latest XRP Options Signal
The metric ranks in the 95th percentile, indicating that calls significantly outpace puts and suggesting upward convexity. Coinbase researchers pose the central question of whether this reflects prudent positioning or saturated demand, as options activity continues to track derivatives market movements.
$XRP options are leaning toward upside convexity.
At the 1w 25Δ point, calls trade 9.3 vol points above comparable puts, a 95th percentile reading.
Sensible positioning, or crowded demand? pic.twitter.com/lLq1cbBfKy
— Coinbase Markets (@CoinbaseMarkets) September 23, 2026
Coinbase Markets emphasizes XRP’s demand consistency as a key indicator, with bulls maintaining support around the $1.50 level. Throughout much of 2026, the options structure favored puts, driving volatility points below -0.10 on numerous occasions, but sentiment has since reversed.
The bull rally drove volatility points above 15 during August’s push toward $1.70. Currently, XRP’s trajectory hinges on breaking or holding the $1.55 resistance zone. In futures markets, short sellers have gained the upper hand, resulting in approximately $17.69 million in liquidations on Thursday.
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