XRP ETF Buzz Builds, but Derivatives Data Suggests Traders Still Fear a Dip

XRP options skew. (Amberdata/Deribit)

This sentiment is backed by what‘s known as a “negative options skew.” That means the demand for puts is higher than for calls across several timeframes. It’s a signal that traders are still nervous about XRPs near-term performance, even with ETF discussions in play.

XRP‘s price chart isn’t helping ease the nerves either. The coin recently dropped out of an ascending wedge, a technical pattern that often indicates a weakening uptrend. As a result, some analysts believe that XRP could revisit lows around $1.6, unless something bullish shifts the tide.

XRP ETF News: Stability from Strong Order Book

Not everything looks gloomy. One positive for XRP is its strong order book depth. Unlike tokens such as Solana, XRP can handle large trades without triggering volatile price swings—a level of stability that regulators may favor when evaluating ETF readiness.

This liquidity advantage is one reason XRP remains in ETF discussions. Ripple, the company behind XRP, also continues to promote it as a global payments solution—a real-world use case that many altcoins still lack

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Will XRP Price Hit ATH？

While ETF optimism is giving XRP fans something to look forward to, short-term traders seem to be playing it safe. Until the market sees clearer signs of upward momentum or regulatory progress, the price may stay under pressure.

On the other side, crypto analyst EGRAG CRYPTO believes this week could be a game-changer for XRP‘s trend. He points out that XRP’s weekly candle is sitting above the key $2.10 level and the 21-week EMA, a positive sign.

But the real deal, he says, is $2.25. If XRP can close the week with a solid candle above $2.25, it could officially confirm a bullish trend reversal and suggest that the April 7 bottom was the turning point.

EGRAG sees $2.25 as more than just resistance, he calls it the “lock-in” point for the uptrend.

This weeks candle close could decide which direction XRP takes next. For now, XRP is caught between long-term hope and short-term fear.