Tensions between Israel and Iran in the Middle East continue to negatively impact global markets, including Bitcoin (BTC) and cryptocurrency markets.
Although the crypto market remains robust despite the tension between the two countries, the risk of a downside still remains.
At this point, investors on derivatives exchange Deribit have placed bearish bets on XRP as tensions between Iran and Israel continue to weigh on it.
A Bearish Expectation for XRP!
Options traders are expecting further declines in XRP amid Middle East tensions, DLNews reports.
Accordingly, it was reported that there was increased activity on the derivatives exchange Deribit as investors took bearish positions on XRP. This means that investors were betting that the price of XRP would fall further.
According to the data, many investors on Deribit have increased their bearish bets, stating that they expect an additional 5% drop in XRP’s price.
On Polymarket, the probability of XRP's price dropping to $2 before the end of the month is priced at 61%.
The tension between Israel and Iran and the recent signals from US President Donald Trump about a possible US intervention are further complicating the market. The tension between the two countries is negatively affecting not only XRP but also the broader crypto market, which includes giants such as Bitcoin and Ethereum. At this point, bearish expectations are increasing for BTC and ETH as well.
*This is not investment advice.
