XRP was reflected as the asset with the biggest short-term volatility in the options market among major cryptocurrencies.

On the 10th, blockchain outlet U.Today reported that, based on Coinbase options data, XRP's expected move through Nov. 15 was plus or minus 9.7 percent on a one-standard-deviation basis, the largest among major cryptocurrencies used for comparison.

The expected moves disclosed by Coinbase Markets on X, formerly Twitter, were plus or minus 9.3 percent for solana, plus or minus 8.5 percent for ether and plus or minus 6.0 percent for bitcoin. That means the options market is pricing a greater chance of short-term price swings for XRP than for those assets.

The figure is only the expected range reflected in option prices, and does not show whether it will move up or down. The market is watching in the coming days whether XRP will actually generate volatility of that magnitude.

XRP also had the largest gap between the options-implied expected move and the median of its price swings over the past 7 days. Coinbase put the ratio at 1.97 times, meaning the options market is expecting price moves about twice as large as recent typical weekly moves.

Spot prices were weak. XRP traded at $1.04, down 4.89 percent over 24 hours. That came as broader selling pressure continued.

The macro backdrop also weighed on investor sentiment. The U.S. consumer price index for October rose 0.4 percent from the prior month, above economists' estimate of 0.3 percent compiled by Dow Jones. After the inflation data, the likelihood of a December policy rate hike increased, and Federal Reserve Governor Christopher Waller said a 50-basis-point increase could be appropriate.

That increased the chance that XRP's short-term direction will be determined between derivatives-market expectations and macro variables. The options market is pricing big moves, but the actual direction is expected to be influenced for the time being by macro indicators and overall risk-asset sentiment.

Crypto options imply these 1-sigma moves through Nov 15: $XRP plus or minus 9.7% $SOL plus or minus 9.3% $ETH plus or minus 8.5% $BTC plus or minus 6.0% $XRP carries the widest premium to its median 7d move (1.97×). Which market delivers? https://t.co/pGXf0eFh8K