Options trader places $2M XRP straddle bet ahead of August expiry

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An options trader has placed a $2 million straddle position on XRP, wagering on significant price volatility in the cryptocurrency. The trade was reported by CoinDesk and comes amid a surge in XRP's market price. A straddle strategy profits when an asset moves sharply in either direction, regardless of whether prices rise or fall. The position is set to expire on August 28, giving the trader a defined window to capture any major price swings.

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