"Derivative Market Reflects Ripple's Bullish Sentiment"

It appears that the bullish sentiment for Ripple is also being reflected in the derivatives market.

On the 16th (local time), according to The Block, Nikolai Sondergaard, an analyst at Nansen, stated, "The trading volume of Ripple in the derivatives market is surging," and "the demand for Ripple call options is also increasing." He added, "This indicates a bullish sentiment among investors towards Ripple," and "most of the open interest in Ripple options is concentrated at the $5 strike price."

According to Coinglass data, Ripple's futures open interest (OI) has increased by 46% since the 13th (local time), reaching an all-time high of $97.6 billion.

Meanwhile, a call option is the right to buy a specific underlying asset at a predetermined strike price. If the market price of the underlying asset is higher than the predetermined strike price at expiration, the call option buyer can exercise the option and profit by the difference.