XRP options traders are showing unusually strong demand for upside exposure, with Coinbase Markets reporting that the one-week 25-delta call-minus-put skew has reached 9.3 volatility points, placing it in the 95th percentile. The measure compares implied volatility for comparable calls and puts, and the current reading means relevant calls carry 9.3 volatility points more implied volatility than puts. It does not mean traders expect XRP to rise 9.3%. The skew was negative for much of late 2025 and the first half of 2026, sometimes dropping below -10 volatility points, before briefly exceeding 15 in late August, cooling and then moving back toward double-digit territory. The shift follows XRP’s roughly 18% gain over the past seven days, according to CoinGecko, although extreme skew is not an unambiguously bullish price signal.