XRP Options Volume Jumps 348% Ahead of US Senate Clarity Act Procedural Vote

XRP options trading surged ahead of a procedural vote in the US Senate on the Clarity Act, with its 24-hour options volume increase far outpacing Bitcoin and Ether.

CoinGape reported on September 15, citing CoinGlass data, that XRP options volume rose 348% over the past 24 hours to $14.55 million. Open interest increased 7.93% to $98.59 million.

Total XRP derivatives volume also climbed 97.18% to $5.52 billion, while open interest rose 4.65% to $3.12 billion. XRP liquidations totaled $13.77 million during the same period, including $7.85 million in short liquidations and $5.92 million in long liquidations.

Bitcoin options volume rose 67.54% over the same period to $3.36 billion, while Ether options volume increased 13.08% to $1.3 billion. Although BTC and ETH posted larger absolute options volumes than XRP, XRP far outpaced both in growth rate.

CoinGape said the sharp increase suggests XRP derivatives positions were being built rapidly ahead of a cloture vote on the Clarity Act scheduled for later on September 15. The vote is a procedural step to continue consideration of the bill rather than a final vote on passage, and it requires 60 votes in the Senate to advance.