3 Best XRP Options Trading Platforms in 2025

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Eliman Dambell

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Eliman Dambell

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Eliman Dambell was a news writer and editor at Bitcoin.com, FXStreet and Investing.com. He commentates on various markets, including Crypto, Stocks and FX.

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July 2, 2025

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XRP options trading can be one of the most profitable ways to trade Ripple. Successful XRP options trades can net 5x or higher gains with a relatively small investment. In this guide, we review the top three XRP options trading platforms, evaluating the overall experience and platform features.

We evaluated each platform based on a variety of factors, including security, fees, liquidity, and regional availability, and Binance, Deribit, and Crypto.com emerged as the top choices. Read on to learn more about these platforms and how XRP options trading works. Let’s get started with a brief overview of the top platforms.

The Best XRP Options Trading Platforms Reviewed

Options trading can be complex for new traders, which makes Crypto.com’s simple structure attractive to newer traders. However, experienced traders may prefer the fee structure and additional tools of a platform like Binance or Deribit. Let’s look at each in more detail.

1) Binance – Best Overall XRP Options Trading Platform

Binance is the largest crypto exchange by trading volume, with its vast selection of trading tools driving the platform’s popularity. The platform offers options trading for select cryptocurrencies, including XRP, as well as market leaders such as BTC and ETH.

XRP options on Binance are available in two primary types for retail traders, with additional trading tools available for institutional traders. Retail traders can choose classic (expiry) options or Binance’s Easy Options, which simplify the process for newer traders or quick trades.

Classic options use USDT for settlement but follow the European style, meaning traders can’t exercise the option to buy or sell early. Instead, a robust marketplace allows traders to trade their contracts before expiry easily. Detailed market data offers insight into open interest, trading volume, and implied volatility, as well as the “Greeks” for in-depth analysis.

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2) Deribit – Best For Institutions and Advanced Traders

Deribit caters to institutional traders and advanced traders who may need to employ complex strategies. In addition to crypto options, the platform offers perpetual futures with a Portfolio Margin System that analyzes your entire portfolio to create a risk-based view of your positions.

The platform settles options trades in USDC for XRP options trades and offers an Option Wizard to help traders build positions intuitively. Trading data for options includes advanced charting, implied volatility curves, and open interest. Deribit also provides a Testnet where traders can test strategies against real-world prices without risking real funds.

Low fees (0.01% maker, 0.05% taker, capped at 12.5% of the option price) combined with high liquidity and advanced tools make Deribit best-suited for full-time traders and institutional investors.

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3) Crypto.com – Best For Beginner Options Traders

As a mobile platform, Crypto.com offers a simpler trading experience. Advanced trading is available, albeit with limited scope compared to competing platforms. However, Crypto.com is well-known for its wide selection of tokens that may not be available elsewhere. It’s also one of the relatively few exchanges to offer XRP options trading.

The platform provides two ways to trade options: Strike and UpDown options. Strike options let traders bet on whether XRP will be higher or lower than a specified price at the expiration date. UpDown options let traders bet on the price direction (up or down), using price barriers to close the position if targets are met.

Crypto.com stands apart from other platforms by offering options regulated by the U.S. Commodity Futures Trading Commission (CFTC). Options trades settle in USD and are paid to the trader’s account.

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What Are XRP Options?

Simply put, XRP options are “bets” on the price of XRP at a given time or date in the future. If you’re bullish on the price of XRP, then you buy, or “write” a “call option.” This will allow you to lock in a price of XRP and gives you the right to purchase it at that price in the future. If XRP goes up, you’re making a profit. Conversely, if you’re bearish, then you want to write a “put option,” which will allow you to sell XRP at a predetermined price. If the price drops, you can still sell at a higher price.

And since options are instruments themselves, they can be exchanged, which is what XRP options trading is all about. This way, you gain exposure to the underlying asset and its movements without actually having to own XRP itself.

Where it differs from “futures” or even spot trading is that options are a contract that provides the buyer with the option, but, crucially, not a requirement, to buy or sell an asset at a specified price.

How Does XRP Options Trading Work

XRP options are a derivative, meaning you’re trading based on the price of the underlying asset rather than buying or selling XRP itself. Notably, with all the XRP options trading platforms detailed earlier, trades are settled in USD or a USD-equivalent stablecoin token, such as USDC or USDT. With this structure, you never take delivery of XRP.

Instead, the writing contract gives you the right to buy or sell XRP at a predetermined price on (or before, for American-style options) the option contract expiration date. However, for the sake of simplicity, you won’t have to accept or deliver XRP. The contract is settled for cash or equivalents in the background.

Options offer an efficient way to trade XRP or other cryptocurrencies, but they also come with some risks. If you guess incorrectly on the price or direction, the option may expire worthless.

Options In a Nutshell

Let’s explore the core concepts and terminology for XRP options trading.

• No Obligation to Buy or Sell: The option buyer pays a “premium” for the right to make a future trade at a specified price. At contract expiration, the contract is settled in cash or equivalents without XRP trading hands.
• XRP Call Options: A call option is the right to buy XRP at the contract price. Traders can use calls if they think the XRP’s price will be higher on the expiration date.
• XRP Put Options: A put option is the right to sell XRP at the contract price. Puts offer a way to bet on falling XRP prices.
• Loss Potential: Your potential loss is limited to the premium for the contract, allowing for more efficient use of capital compared to spot trading.
• Strike Price: The strike price is the price of XRP specified at a future date in the contract.
• Expiry: The expiration date for the contract is the date it closes. If the strike price hasn’t been reached, the contract is worthless. No matter the outcome, losses are limited to the premium paid.

Platforms like Binance and Crypto.com offer beginner-friendly XRP options that simplify the mechanics of options trading. In classic options trading, as offered by Binance and Deribit, traders can sell their calls or puts before expiration.

Why Don’t Most Exchanges Offer XRP Options?

Options trading isn’t for everyone. Classic options trading can be complex, and without a sound understanding of the process, traders can incur losses on premiums for out-of-the-money trades. Spot trading, margin trading, and futures capture more mind share. However, sophisticated traders and those who invest the time to learn how options work can make profitable trades with relatively small investments.

Limited interest in options trading results in fewer exchanges offering options. Regulatory concerns also present a challenge. In some jurisdictions, such as the US, derivatives trading falls under strict regulation. The Dodd-Frank Act boosted the authority of the CFTC, which oversees derivatives trading in the US. The result of this more stringent regulation is that fewer exchanges offer options, and many of those don’t service highly-regulated markets like the US.

For example, in 2023, the CFTC charged Binance with operating an illegal digital assets derivative exchange. The enforcement action resulted in fines of more than $2.7 billion.

Regulatory challenges aside, XRP options, specifically, are relatively uncommon. While several leading exchanges offer Bitcoin and Ethereum options, other altcoins, such as XRP, receive significantly less support in options trading markets.

Why Trade XRP Options?

While options don’t offer leverage in the traditional sense (borrowing against collateral), they do offer leverage in their capital efficiency. A relatively small amount of capital controls a much larger trade position.

For example, let’s say you pay $50 for a $500 XRP call option. If XRP increases in price by 10%, you could easily double your $50. This same profit performance would be unlikely within the same time frame if you gain exposure through traditional spot trading.

However, if the market moves against your trade (out-of-the-money) or if the price is at parity with the market price (at-the-money) at expiration, the option is worthless. Options traders see this as an acceptable risk, as it limits their exposure to the premium paid for the contract. Also, unlike futures trading with leverage, there is no risk of losing collateral types to liquidation with classic options.

Risks and Challenges of Trading XRP Options

The primary risks associated with XRP options center on education and experience. Inexperienced traders can suffer a string of losses while learning the ropes. However, there are other potential risks to consider.

• Liquidity: Smaller exchanges may have fewer buyers and sellers, resulting in less efficient trading. Liquidity can become a larger consideration for niche options markets like XRP.
• Time Decay: Options lose value as they approach expiration dates.
• Premium Risk: The premium is the investment in an options trade. If the market moves against your trade, the option can expire worthless. In this situation, the premium is lost.
• Learning Curve: Options can be much more complex than spot trading (simple XRP buys and sells). Platforms like Crypto.com and Binance offer simplified options.
• Regulatory Uncertainty: Ripple, the company behind XRP, is currently involved in an ongoing case with the US Securities and Exchange Commission (SEC). Uncertainty surrounding the outcome can add higher volatility to the XRP chart.

To overcome the learning curve, consider trading in smaller amounts to familiarize yourself with the options process while minimizing risk. You can also use platforms that offer demo trading (often limited to spot or futures) to hone your technical trading skills before trading options with real funds. For example, Binance offers a Testnet for testing trading strategies.

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

Let’s use Binance as an example for a walkthrough on how to trade XRP options. Binance offers high liquidity for leading assets and low fees for options trading. In this example, we’ll use Binance Easy Options, which are best-suited to beginners.

1) Create and Verify Your Binance Account

Visit Binance and sign up for an account. You’ll need to provide an email address or phone number. Then, complete the Know Your Customer (KYC) requirements. For this step, you’ll need to confirm your identity by providing a driver’s license, passport, or national ID card.

2) Fund Your Trading Account

Choose a funding method to add funds to your trading account. Deposit options vary by region. Binance also accepts crypto deposits. Ultimately, you’ll need USDT tokens to buy XRP options on Binance.

3) Navigate to Easy Options

Click the Futures tab on the menu to open futures and options. Then, select Easy Options from the Options menu.

4) Place Your Options Trade

Easy Options makes it a breeze to set up an options trade. Just choose direction (up / down), select your target date, and pick a price from the drop-down menu.

Binance also offers one-click options contracts, which you can select from the same page. Sort by popularity, cost, and other criteria.

5) Finalize Your Trade

Review the XRP options trade details. If everything appears correct, tap the Buy button to complete your options trade payment.

Notably, you must complete identity verification to complete the trade. Once you place the order, you can track your XRP options trade under open orders in the dashboard.

Conclusion – What are The Best XRP Options Trading Platforms?

XRP options trading can be lucrative, but it comes with a learning curve, particularly for classic options. Fortunately, some of the leading exchanges have begun to offer a simpler version of options products to help traders get started. After a few successful trades, traders can transition from simple options to classic options, which offer more market insight and potentially higher returns.

Binance’s Easy Options let you get up to speed without needing a Master’s degree in finance. The platform also offers a no-risk Futures Testnet, where you can hone your charting skills to predict future price movements more accurately. With products for new or experienced options traders, Binance is our top pick for XRP options trading.

Binance

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