XRP has led recent derivatives activity as traders position for the Senate’s CLARITY Act cloture vote, scheduled for 2:15 p.m. ET today. XRP derivatives (contracts tied to an asset’s price) volume climbed 97.18% to $5.52 billion, while open interest (outstanding contracts) rose 4.65% to $3.12 billion, according to CoinGlass. XRP options volume increased 348% to $14.55 million, and options open interest rose 7.93% to $98.59 million. Liquidations reached $13.77 million, including $7.85 million in shorts and $5.92 million in longs. Bitcoin and Ethereum also recorded gains in options and broader derivatives activity, but XRP’s options growth was substantially larger. The CLARITY Act vote would open the way for debate but would not ensure passage. At least seven Democratic senators would need to support cloture, with Republicans holding 53 Senate seats. Sen. Cynthia Lummis said Democrats had secured more than 100 changes, including self-custody and retail-investor provisions, and called the bill’s moment \"now or never.\" Banking groups and New York state attorneys general oppose the legislation, while Senate Democrats continue developing a counterproposal. For XRP, the bill could provide clarity on its commodity status in secondary markets regardless of the amount of XRP held by Ripple.