XRP Surges 17% to $3.58 as CME Futures Launch and Institutional Demand Drive Record Volumes

XRPUSDT has experienced a notable surge in the past 24 hours, with the price rising 17.00% to $3.5817 on Binance. This upward movement is primarily attributed to increased institutional interest following the launch of XRP futures on CME Group, which has driven significant trading volumes and attracted new participants. Additional contributing factors include positive sentiment from the U.S. House of Representatives advancing a key cryptocurrency bill, forecasts of upcoming cryptocurrency ETFs that may include XRP, and Ripple’s ongoing expansion in the UAE. The ongoing SEC lawsuit remains a background factor, but recent technical analysis and strong trading activity have supported bullish momentum.

Currently, XRPUSDT is trading at $3.5817 with a 24-hour open of $3.0612, reflecting a 17.00% increase, and is accompanied by high trading volumes and a market capitalization exceeding $206 billion, positioning XRP as the third-largest cryptocurrency by market cap.