The tension between Israel and Iran in the Middle East continues to negatively affect global markets, including Bitcoin (BTC) and cryptocurrency markets.
Despite the tension between the two countries, the crypto market remains strong, but the risk of a decline still continues.
At this point, investors on the derivatives exchange Deribit have entered into a bearish bet on XRP, as the tensions between Iran and Israel continue to negatively affect.
Bearish Expectations for XRP!
According to DLNews, option traders expect further declines in XRP amidst Middle Eastern tensions.
Accordingly, it was reported that there is increasing activity on the derivatives exchange Deribit due to investors taking short positions on XRP. This means that investors are betting that the price of XRP will fall even further.
According to the data, many investors on Deribit have increased their bearish bets, indicating that they expect an additional 5% drop in the price of XRP.
On Polymarket, the probability of XRP’s price falling to 2 dollars before the end of the month is priced at 61%.
The tension between Israel and Iran, along with the recent signals regarding a possible US intervention from President Donald Trump, is complicating the market further. The strain between the two countries is negatively impacting not only XRP but also the broader cryptocurrency market, which includes giants like Bitcoin and Ethereum. At this point, expectations for declines in BTC and ETH are also increasing.
*Not investment advice.
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