Binanceannounced that it will launch XRP/USDT Options on the Binance Options RFQ platform starting on Monday, March 11. This step aims to expand the trading options available to users and improve the overall trading experience. Binance Options RFQ stands for “Request for Quote” and allows users to request quotes for options trades directly from the Binance OTC Trading Desk. This provides institutional-grade liquidity to execute large-scale transactions at free and competitive rates.
About the XRP/USDT Option Contract
The new XRP/USDT Options will be European-style contracts that can only be exercised at expiration, unlike American-style options. However, up to this point they can be bought and sold at the current market price. This feature is designed to provide traders with more flexibility in their trading strategies.
Binance has highlighted the risks associated with options trading, stating that while there is the potential for significant gains, there is also a significant risk of loss. An option buyer’s maximum loss is limited to the premium paid. Investors who will trade options on Binance must accept the conditions specified in the Binance Options Service Agreement.
Despite the announcement of new XRP/USDT Options, XRP No significant impact on price was observed. At the time of writing, XRP is trading at $0.6207, down 0.04%. This follows a slight pullback in Bitcoin price, which is currently trading at $68,177, according to Coinmarketcap.
