Ripple (XRP) bulls are now eyeing a target of $3 as call strike options for $2.80 and $3 have seen an increase. The latest banking developments favor a dramatic price rise and bulls are making the most out of the situation. The latest report shows that call options at strikes have also hit $4 with the expiry being September 28, 2025, according to data from Deribit Amberdata.

A $3 strike call has seen 2 million contracts change hands but mostly sellers have placed a $2.80 call. For the uninitiated, a call option allows the buyer the right to buy an asset at a predetermined strike price at a later date. The increasing confidence and the rising risk appetite of bidders represent a bullish view for Ripple’s XRP.

Ripple Bulls Pushing XRP Above $3

The options contract highlights that traders are optimistic it could see a rally and climb above the $3 mark. A week ago, the daily trading volume of Ripple’s XRP stood at $2.7 billion. On Thursday, the same reached a high of $4.2 billion, igniting a spike of 56% in the daily trading volume. The leading altcoin has spiked nearly 5% on Thursday and is attracting heavy buying pressure from retail and institutional investors.

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Its daily trading volume has soared by nearly 56% as traders took an entry position after the latest banking developments. The increase reflected on its value as Ripple’s XRP touched a high of $2.3 during the day’s trading session. The 24-hour, 7-day, 30-day, and 1-year charts have all turned green with the buying spree. The altcoin could kick-start a rally and continue the momentum till $2.80 and $3.

While a price target of $3 seems feasible due to the increase in call strikes, $4 looks overoptimistic. We will have to wait and watch how high XRP could surge this month due to the bullish sentiments.