Range partitioning maps data to partitions based on ranges of values of the partitioning key that you establish for each partition. It is the most common type of partitioning and is often used with dates. For a table with a date column as the partitioning key, the January-2010 partition would contain rows with partitioning key values from 01-Jan-2010 to 31-Jan-2010.
Each partition has a VALUES LESS THAN clause, that specifies a non-inclusive upper bound for the partitions. Any values of the partitioning key equal to or higher than this literal are added to the next higher partition. All partitions, except the first, have an implicit lower bound specified by the VALUES LESS THAN clause of the previous partition.
A MAXVALUE literal can be defined for the highest partition. MAXVALUE represents a virtual infinite value that sorts higher than any other possible value for the partitioning key, including the NULL value.