Options market data for cryptocurrencies published by major US crypto exchange Coinbase indicates that a big (approximately 8.7%) price swing for XRP could be expected by Nov. 8.
At the time of writing, XRP and Solana are tied in terms of the biggest expected price move (according to options-implied volatility), both showing an 8.7% expected move.
Ethereum (ETH) has an expected 7.7% move. Meanwhile, Bitcoin (BTC) is the asset with the lowest expected price move (according to implied volatility) among the top four assets (5.8%).
It is important to note that the above numbers do not necessarily mean that a big upward move in the price of XRP is expected.
They only mean that options traders are expecting significant moves (up or down).
What does the 8.7% XRP price move mean?
According to Coinbase data, an 8.7% price move (up or down) could be possible within the specified timeframe.
The current price of XRP is around $1.25.
An 8.7% move up would mean the price of XRP could reach around $1.36.
An 8.7% move down would mean the price of XRP could reach around $1.14.
That would mean the implied price range for XRP is around 1.14–1.36.
It is worth noting that Coinbase's numbers are based on "implied volatility," which is a measure based on options prices that reflects the market's expectations for future price swings.
Coinbase is referring to a "one standard deviation" or 1σ move. In the typical normal distribution context, this means there's about a 68% chance that the asset will end up in the specified range.
That does not mean XRP will necessarily be in that price range, nor that there's a 50/50 chance of an 8.7% rally or fall.
What it means is that the options market provides an estimate of the size of the expected move, but it does not necessarily indicate the direction of the move.