XRP Surges Past Rivals as Options Activity Explodes Ahead of Clarity Act Vote
Ripple's XRP has surpassed Bitcoin and Ethereum in options activity as traders bet on the CLARITY Act vote today. The XRP options volume surged nearly 350% to $14.55 million, outpacing the growth of Bitcoin and Ethereum options.
The derivatives market saw aggressive positioning with trading volume rising 97.18% to $5.52 billion and open interest increasing by 4.65% to $3.12 billion, per CoinGlass. The volume of XRP options open interest rose by 7.93% to $98.59 million.
Liquidation data backs up the bullish reading with XRP liquidations hitting $13.77 million in the 24-hour timeframe. The larger short liquidations could indicate that traders who had wagered against XRP were forced to cover their shorts as the asset rallied, pushing the price even higher.