A crypto whale has made a $224,000 bet that XRP's price stays perfectly flat through June
Key takeaways
- A massive XRP derivatives play is betting that its price goes nowhere until the end of June, even as macro headwinds and regulatory developments suggest a volatility boom.
- The move hit the tape on crypto exchange Deribit as a single-block trade, meaning it was a large transaction executed over-the-counter in a privately negotiated deal to prevent it drastically moving the price.
- The trade likely involved a whale or an institution executing what is known as the "short straddle" strategy by shorting (selling) 1.5 million contracts of both the $1.40 call and put options expiring on June. 26.
A crypto whale has made a $224,000 bet that XRP's price stays perfectly flat through June The trader collected about $224,500 in premiums and will keep the full amount if XRP remains close to $1.40.By Omkar Godbole|Edited by Jamie Crawley May 21, 2026, 9:34 a.m. 2 min read Make preferred on (whekevi/Pixabay)What to know: A large trader booked a "short strangle" strategy on Deribit, expecting XRP to stay close to $1.40 till the end of June.The trader collected about $224,500 in premiums and will keep the full amount if XRP remains close to $1.40.The low-volatility wager comes as macroeconomic pressures and a key U.S. crypto regulatory bill, the Clarity Act, raise the prospect of bigger price swings. A massive XRP derivatives play is betting that its price goes nowhere until the end of June, even as macro headwinds and regulatory developments suggest a volatility boom.
The move hit the tape on crypto exchange Deribit as a single-block trade, meaning it was a large transaction executed over-the-counter in a privately negotiated deal to prevent it drastically moving the price.
The trade likely involved a whale or an institution executing what is known as the "short straddle" strategy by shorting (selling) 1.5 million contracts of both the $1.40 call and put options expiring on June. 26.