XRP futures became available on the Chicago Mercantile Exchange today. This makes#XRPfutures the fourth crypto futures on the CME after #BTC,#ETHand #SOL.
#CMEGroup is the largest derivatives exchange in the US. Futures on#XRPhave been launched in two formats at once, standard and micro:
- XRP Futures - contracts for 50,000 XRP.
- Micro XRP Futures - contracts for 2,500 XRP.
All transactions are in dollars and settled in money, without the supply of coins.
Of course, the fact that XRP futures are listed on CME is not a pump, but it is an important infrastructural step. Now, institutional investors can legally trade XRP futures through a regulated exchange in the US. This strengthens XRP's position as one of the top digital assets in the eyes of Wall Street. Accordingly, today's listing potentially opens the door for XRP to more conservative portfolios - through funds, wealth managers, and hedge funds. XRP becomes an "official" participant in the institutional crypto market.
Ticker - XRP1! If you look at it now - there are even more gaps there than there were for a similar instrument on SOL. There is not enough liquidity for "dense" trading yet.
#Ripple, meanwhile, announced a partnership with Zand Bank and Mamo. After receiving a license from Dubai's regulator, Ripple is launching cross-border blockchain payments in the UAE as part of Ripple Payments.
Their first client, released today, #ZandBank, is notable for its upcoming launch of a stablecoin pegged to the dirham (AED). The second client, #Mamo, is a fintech platform that aims to simplify international transfers for businesses and consumers.
XRP, by the way, looks quite bullish in the meantime, has exited the wedge-shaped structure and is now retesting the exit, consolidating above the EMA 50 of the daily TF. There are stable uptrends on the daily and 2-day TF. To confirm the approach to a new ATH, a stable uptrend needs to be formed on the 3-day TF. On the daily and 2-day TF, the furthest additional target is now $ 4.0583.
