The surge in trading activity for XRP's $1.10 call options on Deribit reflects the market's optimism about a potential XRP ETF. The open interest for this option reached 4.347 million, worth $2.44 million, making it the most popular XRP option. Ripple's recent legal victory against the U.S. Securities and Exchange Commission has also increased market hopes for the possibility of an XRP ETF launching in the United States.

Key Points

- The open interest value of XRP's $1.10 call options on Deribit has exceeded $2.44 million.

- The market's bullish sentiment on XRP may be due to optimistic expectations for an XRP ETF.

- The number of open interest contracts has increased by 838,000 in five months.

- Ripple's victory in the legal case against the SEC is seen as a positive sign for the XRP market.

- Although XRP prices have risen by more than 30% in the last month, some market analysts are skeptical that it can break through $1.10.

- The market's call option trading reflects a net-long market positioning strategy.

- The activity in the XRP options market shows investors’ expectations for the expansion of digital currency ETFs to XRP.