The XRP derivatives market has experienced a significant rise in activity in the last day, indicating growing interest among traders. The latest Coinglass data shows that trading volume rose by 62.99%, causing the total volume to reach $4.52 billion. The rise in trading volume also suggests that an XRP price increase could happen soon. XRP trading volume climbs as open interest dips In contrast to the rise in volume, XRP open interest has decreased by 0.3% to $3.65 billion at the time of writing. The open interest metric gives the total number of outstanding contracts. The drop in open interest suggests that traders haven't taken a large number of active positions despite the rise in trading activity. Meanwhile, there has been a 65.06% rise in options volume, with the value of open options positions rising by 24.48% to a total of $763,030. The rise in the options market suggests that traders are speculating that multiple factors could affect future XRP price direction. An in-depth analysis of trader behavior (based on the Coinglass data above) shows that many of them are likely to take long positions, particularly on Binance, one of the biggest cryptocurrency platforms globally. Bullish sentiment dominates The long-to-short ratio for XRP/USDT on Binance is currently 3.0161. This indicates that for every trader willing to take short positions, there are three willing to take long positions. This ratio on OKX, another top cryptocurrency platform, confirms this bullish bias at 2.2.The Rekt data, which monitors liquidations or forced closures of positions, shows that total liquidations have reached $8.63 million in the last 24 hours. Out of these, the total short positions were $835,450, while there were $7.8 million in long liquidations. The Coinglass data suggests that the XRP derivatives market is displaying strong signs of bullish momentum, with traders optimistic about the coin's future price movements. Current CoinMarketCap data shows that XRP trades at $2.15, down by 0.69% in the last 24 hours. The chart also shows that XRP's price action has been volatile within the same period. The price rose above $2.18 briefly, dropped to about $2.10, before rising to its current price of $2.15. Meanwhile, an industry event that could be affecting trader bias for XRP is the recent news by U.Today that Ripple donated $25 million in RLUSD to support U.S. schools and teachers.