4 Best XRP Options Trading Platforms in 2025

XRP options offer exposure to the XRP price without requiring direct ownership of any XRP coins. Options traders can go long or short across a wide range of strike prices and expiry dates, and only need to pay a small premium to execute trades, amplifying position sizes significantly.

This guide explains everything you need to know about XRP options trading, including proven strategies and risk-management best practices.

It also discusses the top XRP options trading platforms in 2025. We tested more than a dozen providers and found that overall, Binance is the best place to trade short-term options, while Deribit stands out for its more comprehensive XRP chains.

The Best XRP Options Trading Platforms Reviewed

Read on to learn more about the top XRP options trading platforms. The following reviews cover the key points required to make an informed decision.

1. Binance: Best XRP Options Trading Platform for Short-Term Positions

Binance, the world’s largest spot trading exchange, offers a comprehensive options platform that supports XRP, Bitcoin, Ethereum, Dogecoin, and BNB. It’s the best place for day traders to speculate on XRP call options, as most contracts have a maximum expiry date of one week.

Traders can choose from several strike prices, which currently range from $2.25 to $2.60, and the contracts utilize a European-style formula. Binance provides extensive options data to help traders make informed choices, including deep order books, open interest, call vs. put volume, and the 24-hour taker flow.

Binance provides Options Data to help you make the right choices for your portfolio. Source: Binance/Screenshot

The platform charges a flat XRP call options fee of 0.03% per slide, regardless of monthly volumes or whether you’re a market taker or maker. Binance requires traders to verify their account before depositing and trading, so a government-issued ID (aka KYC) is necessary.

3 Key Takeaways

• Supports short-term XRP contracts with a maximum expiry of seven days
• Provides deep options liquidity and tight spreads
• In addition to XRP, other crypto markets include Bitcoin, Ethereum, Dogecoin, and BNB

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2. Deribit: Best XRP Options Trading Platform for Deep Options Chains

Deribit, which specializes in crypto derivative products, has one of the most extensive chains for XRP call options. It offers short- and medium-term expiry dates, ranging from one day to three months, making it suitable for both day and swing traders alike.

The XRP options chain also features a vast selection of strike prices, ranging from $1.50 to $7, catering to both bullish and bearish sentiment.

The exchange offers European-style options and settles XRP contracts in USDC. Contract filters include the implied volatility (IV), bid-ask prices, and real-time delta.

Deribit offers a wide range of options for crypto derivatives. Source: Deribit/Screenshot

In terms of fees, you can trade XRP call options at 0.01% per slide when placing limit orders. Market orders are five times more expensive at 0.05%. Traders also pay a settlement fee of 0.015% at expiry, although those trading daily options are exempt from this charge.

3 Key Takeaways

• Extensive options chains with a wide range of strike prices
• Contract terms range from one day to three months
• The platform settles XRP call options in USDC

3. Crypto.com: Best XRP Options Trading Platform for U.S. Clients

Crypto.com is a regulated trading platform and the overall best place to trade XRP options in the U.S. The exchange offers binary-style options, allowing traders to speculate on XRP without relying on traditional chain metrics such as strike prices and expiry dates.

Instead, Crypto.com provides the upper and lower prices, with positions typically expiring in minutes or hours. For example, suppose the current price is XRP $2.20: the upper and lower range could be $2.40 and $2.00 with a 30-minute expiry, and the position closes when one of these prices hits.

The homepage of Crypto.com which offers a wide range of crypto services. Source: Crypto.com

The platform offers built-in leverage with available prices, and traders pay a $1.99 exchange and technology fee per contract when entering and exiting positions. Traders can also close positions early to realize profits or reduce potential losses. Crypto.com options settle in USD, with the exchange accepting ACH and other convenient payment methods.

3 Key Takeaways

• A regulated XRP options trading platform built for U.S. clients
• Options are binary-style contracts with short-term settlement (minutes or hours)
• The exchange settles contracts in USD

4. PowerTrade: Best XRP Options Trading Platform for Longer-Term Contracts

PowerTrade is a specialist options trading platform that supports over 80 cryptocurrencies, including XRP. It’s one of the best places to trade contracts with long-term expiries.

PowerTrade supports three and six-month markets with a minimum and maximum strike price of $1 and $8. The exchange also offers XRP options with daily, weekly, and monthly settlement.

All options contracts are European style and settled in USDC. Platform users have access to advanced analysis and trading tools, including a strategy simulator, detailed Greeks, market statistics, and open interest per strike.

PowerTrade leans more to the specialized and experienced crypto trader market. Source: PowerTrade

PowerTrade fees are competitive, with XRP options traders charged 0.15% per slide on both limit and market orders. Note that Bitcoin and Ethereum options are cheaper at 0.075%.

The main drawback is that PowerTrade has significantly thinner liquidity compared to other XRP options platforms, making it a better fit for placing smaller orders.

3 Key Takeaways

• Specialist options trading platform that supports over 80 altcoins
• Massive options chain with expiries ranging from one day to six months
• Strike prices go from $1 to $8

What Are XRP Options?

XRP options are derivative products that let traders speculate on the XRP price without directly owning the underlying crypto assets.

They’re particularly popular with crypto traders who want to enter large-scale positions without risking significant capital. Only a small upfront fee, known as the “premium”, needs to be paid to place trades.

Options support both long and short trading, so you can attempt to profit from bullish and bearish XRP prices. Many options platforms offer short and long-term contracts that range from 24 hours to 12 months. This finite time frame differs from perpetual futures, which never expire.

How Does XRP Options Trading Work

XRP options are complex financial derivatives, so first-time traders must understand how they work before getting involved.

This section explains the fundamentals of XRP options in much more detail.

Long and Short Trading (Calls and Puts)

When trading XRP options, the objective is to predict whether the XRP price will settle above or below a specific price on a certain date. As such, you can enter long or short positions, similar to perpetual futures.

The XRP price chart from 2014 to 2025. Source: CoinMarketCap

Traders who are bullish on XRP purchase “call” options, while those who believe the price will decline buy “put” options. It’s also possible to sell calls and puts, but this is a strategy implemented by experienced traders and market makers.

Strike Price

The strike price is the benchmark when trading options. You need to decide whether the contracts will settle above or below this price.

The best XRP options trading platforms offer multiple strike prices, and each determines the premium, risk, and potential payouts.

Premium

The premium is a non-refundable fee that’s required to enter an options trade — it also reflects the maximum amount that can be lost on the position. Put otherwise, losing options trades can’t exceed the premium, making the derivative product ideal for mitigating risk.

While premium values vary wildly depending on the current/target strike prices and contract length, they’re typically a small percentage of the overall options contract value.

If the current XRP price is $2.50, there’s a much lower probability of reaching a $5 strike price compared to $3. This example means that the premium on a $3 strike price is much higher than $5, as per the reduced risk.

Contract Expiry

All options contracts have an expiry date which, depending on the platform, ranges from a day to a year. The contract length impacts the premium, with longer-term markets typically costing more, as traders have a greater chance of ending in the money (ITM)

On the expiry date, you make a profit if you purchased call options and the XRP price is above the original strike price (and vice versa if you purchased put options).

Note that both European and American-style options enable traders to exit their positions early, yet only American contracts can be exercised before the expiry date.

Why Trade XRP Options?

This section explores the benefits of trading XRP options.

Trade Both Market Directions

Options contracts enable traders to go long (calls) or short (puts) on XRP — this means you can attempt to make profits from both rising and falling prices.

Buying XRP from spot exchanges only offers profit potential if the cryptocurrency increases in price, so you can’t make gains if you believe XRP is overvalued.

High Leverage

When you trade XRP call options, you only need to pay a small premium to execute the position. That premium is often a small fraction of the overall value, so you can open positions worth significantly more than you have in the trading account.

For example, the above image shows the real-time XRP options chain on the Deribit platform. Traders currently pay a premium of about $0.14 on a $2.50 strike price — this amounts to approximately 6% of the contract value, so you get $25,000 worth of market exposure for just $1,400.

Potential Losses are Clear and Finite

Although options offer high leverage limits, they’re significantly less risky compared to perpetual futures. This is because XRP options traders are limited to losing only the initial premium and not a cent more.

Additionally, and unlike futures, options can’t be forcibly liquidated, so you can keep trades open until the expiry date without fear of the exchange closing the position early.

Options Chains Enable Tailored Forecasts

Traders can tailor their options trades to align with their XRP forecast by using appropriate strike prices and contract terms.

One example is a trader who believes that XRP will close above $5 by the end of 2025. They can purchase six-month call options with a $4.75 strike price and will likely pay a premium that represents a tiny fraction of the contract value.

This customization isn’t possible when spot trading cryptocurrencies.

Hedging Tool

Options are commonly used by traders to hedge against potential market volatility.

An investor holding a substantial number of XRP coins may decide to purchase XRP put options to protect their portfolio against short-term uncertainty, such as the ongoing court case with the SEC.

If the legal outcome favors Ripple Labs, the investor simply loses their premium (as the XRP price is likely to rise). If the outcome favors the SEC, the investor may profit from their put options, assuming the XRP price declines.

Risks and Challenges of Trading XRP Options

XRP call options traders should consider the following risks before proceeding.

100% Premium Loss

If the options contracts expire out of the money, traders lose the entire premium they paid.

Traders can reduce losses by setting stop-loss orders — this means the exchange closes the position automatically if the contract value declines by the stated amount (e.g., 10%).

Lower Liquidity Than Mega-Cap Markets

Liquidity is lower when trading XRP call options compared to mega-cap cryptocurrencies like Bitcoin and Ethereum. The result is that traders may need to accept a less favorable premium ratio, as well as face challenges to exit the market early.

Liquidity risks are less prevalent for casual traders who allocate small amounts — they’re a bigger issue for those placing large orders.

Complexity

XRP call options are a better fit for seasoned traders. Options chains are highly complex — beginners may not understand terms like Greeks, Delta, and implied volatility.

The best practice for inexperienced traders is to start with a demo trading platform. This learning curve lets beginners trade with virtual funds rather than risking real money.

Limited Exchange Support

Very few crypto exchanges support XRP call options. Limited choice means that traders may need to join a platform they wouldn’t normally be comfortable using, perhaps because it lacks local regulation or support for their preferred currency.

How to Start Trading XRP Options: Step-by-Step Guide

This section provides a walkthrough of how to trade XRP options. Follow these steps to get started with Binance, our overall top pick for 2025.

Step 1: Open a Binance Account

Visit the Binance website to open an account. You’ll initially need to provide an email address or mobile number, as well as a strong password.

Setting up a Binance account. Source: Binance

The exchange has stepped up its KYC controls since U.S. authorities fined Binance $4 billion for money laundering failures. This regulatory requirement means traders must upload a government-issued ID to verify the account.

Step 2: Make a Deposit

Binance settles XRP options in USDT, so you’ll need some USDT in the account to open positions. If you already have USDT, transfer the tokens to your unique Binance deposit address, which you can get from the account dashboard.

Using the Binance on-ramp to deposit USD. Source: Binance

You can also buy USDT instantly with a debit/credit card directly from Binance — click “Buy Crypto”, select the currency (e.g., USD), and type in the purchase amount. As the account is already verified, the platform doesn’t require additional documents.

Another option is to buy USDT from Binance’s peer-to-peer exchange, which supports hundreds of local payment methods.

Step 3: Go to the XRP Options Page

Hover over “Futures”, click “Options”, and tap “XRP” from the list of markets. You will now see the XRP options chain with a variety of strike prices and market data. Note that Binance only supports weekly contracts, so you can’t change the expiry date.

Binance’s XRP options chain with strike prices and market data. Source: Binance

Spend some time analyzing the chain, including premiums (bid-ask prices) and trading volumes.

Tip: Click a market to reveal the effective leverage for the selected strike price and premium.

Step 4: Create and Place an XRP Options Order

To set up an order, click the preferred XRP strike price — calls and puts are situated to the left and right of the strike prices, respectively.

Choose calls if you believe the contracts will expire above the strike price, and puts if you’re bearish.

The Binance order book for XRP. Source: Binance

An order form then appears to the right of the options chain — enter the number of contracts to purchase. On Binance, each contract is worth 100 XRP.

Check the order form to make sure everything is correct, then confirm it to enter the position.

Step 5: Closing the Options Trade

The value of the XRP call options fluctuates based on the real-time XRP spot price, with market makers helping to ensure that both prices move in the same direction. This means the contracts increase in value as the likelihood of ending in the money rises (and vice versa), so you can cash out early to lock in gains or reduce potential losses.

Calls and Puts on Binance’s XRP order book. Source: Binance

Alternatively, you can let the contracts settle automatically on the expiry date — you’ll either make a profit or lose the upfront premium, depending on the closing price.

Conclusion

XRP is one of the top-performing cryptocurrencies in 2025, with many traders using options contracts to increase crypto market exposure and cap potential losses.

While few platforms support XRP call options, Binance remains the industry leader. The world’s biggest exchange offers deep liquidity, competitive trading fees, and a wide range of options trading tools. Binance also supports other options markets, including Dogecoin, Ethereum, and Bitcoin.
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References

1. Options Pricing (Merrill Edge)
2. Calculating Options Moneyness & Intrinsic Value (CME Group)
3. What Does “In the Money” Mean in Options Trading? (The Street)
4. Ripple Labs Says US SEC Ends Appeal Over Crypto Oversight (Reuters)

Binance CEO Steps Down; Crypto Platform Hit With Record $4.3 Billion in Damages (NBC News)