XRP has surged over 3.5% in the past 24 hours, with bullish momentum fueled by rising activity in Deribit-listed options. Traders are heavily betting on July 25 XRP calls at $3 and $4, and a September $2.80 strike, reflecting optimism around a possible XRP spot ETF approval now seen as 95% likely, according to Bloomberg analysts. Ripple’s application for a U.S. national banking license further boosts market sentiment. Technically, the XRP/BTC pair has broken out of a bullish falling wedge pattern, signaling a potential trend reversal. Despite bearish SMA indicators, the breakout suggests renewed upward momentum for XRP in the short term.

As Ripple expands its On-Demand Liquidity (ODL) corridors, real demand for XRP may soon overpower speculative bot activity. But for now, bots dominate, manipulating prices through spoofing, wash trades, and latency advantages. Only when utility meets transparency will XRP’s price reflect true investor interest instead of algorithmic games.

The XRP market is dominated by fast-reacting bots using privileged APIs. But this may change. Regulatory frameworks like MiCA and crackdowns on exchange favoritism could level the field. Transparency from on-chain trading and the rise of decentralized order books may finally expose bot activity. Until then, the illusion continues.