Golden Finance reported that open interest has grown 46% since Monday to reach a record high of $7.6 billion, according to data from Coinglass. This is the highest level of open interest recorded by the analytics firm. “Looking just at XRP options data, there is more interest in calls than puts, which suggests bullish sentiment is high,” said Nansen research analyst Nicolai Sondergaard. “The ratio of puts to calls is also below 1, further evidence that calls Interest is higher." Sondergaard highlighted that the ratio of puts to calls has increased over the past day, indicating that traders are increasingly using puts to hedge their long positions.