XRP extends rally as traders weigh Senate vote, Fed decision and market risks

  • XRP options volume rose 348% to $14.55 million before the Senate CLARITY Act vote.
  • XRP futures trading volume increased 97.18% to $5.52 billion.
  • BTC and ETH options volumes totaled $3.36 billion and $1.3 billion, respectively.

XRP rose 9.8% from $1.337 on Sept. 13 to $1.49 on Sept. 14 before easing to about $1.41 and later trading at $1.40 on Tuesday, while bitcoin remained near $77,600. XRP options volume reached $14.55 million in 24 hours, up 348% ahead of a U.S. Senate cloture vote on the CLARITY Act, and futures volume rose 97.18% to $5.52 billion. XRP outpaced bitcoin and ether in options-volume growth, although BTC and ETH options volumes remained far larger at $3.36 billion and $1.3 billion. Options open interest increased 7.93% to $98.59 million, while perpetual-futures positioning and positive funding pointed to stronger demand for leveraged bullish exposure. The market faced heightened event risk from the Senate vote and the Federal Reserve's Sept. 16 policy decision, as CryptoQuant flagged overheating and futures sell-side dominance.

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