XRP is currently in an intriguing battle zone. It is now trading around $1.33, but there is a large concentration of options at the $1.40 level on Deribit — approximately $14.6 million in open interest centered here, nearly a quarter of all XRP options on the exchange. This is no coincidence. As the March expiration approaches, this level could become a price magnet. Market makers who are short at $1.40 typically hedge dynamically, which often pushes the price toward the strike — traders call this 'pinning.' So, the real battle is between option sellers who want the price to stay at $1.40 and buyers who want a breakout. If XRP continues to rise beyond $1.40, the put options will expire worthless and selling pressure could decrease. But if it drops, there could be a rush of hedging that accelerates the fall. Next week will be a key battle. This level needs to be monitored seriously.

#GateSpotDerivativesBothTop3 $XRP ‌

I noticed an interesting point in the market — Bitcoin broke through $71K after news about negotiations with Iran. In one day, cryptocurrencies rose by 5%, but then pulled back when conflicting information appeared. Ethereum, Solana, Chainlink — all showed a similar pattern. Oil fell by 11%, which caused significant liquidations in futures. Now it's interesting to watch XRP — yesterday it dropped from $1.36 to $1.33 on high volumes. Resistance at the $1.35 level holds, but it doesn't break above $1.40–$1.41. It seems the market isn't entirely confident in this rally. What’s curious is that Bitcoin options show a defensive stance. Puts are trading with a volatility premium of 8–10 points, even though everything on the surface looks risk-on. It appears experienced traders are waiting for pullbacks and preparing for possible consequences of political instability.