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XRP Futures Make Strong Debut on CME with $1.5M in Trading Volume
XRP Futures contracts debuted on CME GroupCFTC classified XRP as a commodityXRP Futures recorded a remarkable $1.5 million trading volume
Crypto futures contracts offer a new window to crypto trading for investors. They allow traders to access crypto trading without directly involving themselves with crypto market price fluctuations. The most recent XRP Futures launch on CME Group’s derivatives platform became successful yesterday with considerable trading volume.
XRP is one of the major altcoins in the crypto market and represents the overall market growth and trajectory. Its five-year-long lawsuit with the SEC recently ended after Trump’s presidency began. The Commodities and Futures Commission (CFTC) classified the XRP token as a commodity in contrast to the previous SEC’s token reference as a security.
XRP Futures finally debuted on the CME derivatives platform yesterday and recorded $1.5 million in trading volume on the first day itself. Even though 4 standard contracts traded, the majority of the trading activity came from 106 Micro XRP Futures contracts, which amounted to more than $1 million in volume.
Ripple CEO: XRP Futures Marks a Key Milestone
Ripple CEO Brad Garlinghouse wrote about XRP Futures trading on the CME Group on his X profile,
“The launch of regulated XRP Futures on CME Group marks a key institutional milestone for XRP, and very excited to report that Hidden Road cleared the first block trade on CME at the opening!”
XRP Futures trading on a renowned exchange such as CME is noteworthy. It further deepens the roots of the crypto market into traditional finance. Similar to how BTC and ETH Futures trading impacted the price action of these two cryptocurrencies, XRP Futures contracts on CME will also have an impact on the XRPmarket price.
The XRP market price surged 2.83% in the last 24 hours, trading at $2.36, thanks to XRP futures’ debut on the CME Group. Its trading volume decreased by 17%, indicating the price surge may not last long. The XRP Futures’ notable volume on the first day might not last long. However, its impact on the broader crypto market dynamics is commendable.
Crypto futures contracts offer a new window to crypto trading for investors. They allow traders to access crypto trading without directly involving themselves with crypto market price fluctuations. The most recent XRP Futures launch on CME Group’s derivatives platform became successful yesterday with considerable trading volume.
XRP is one of the major altcoins in the crypto market and represents the overall market growth and trajectory. Its five-year-long lawsuit with the SEC recently ended after Trump’s presidency began. The Commodities and Futures Commission (CFTC) classified the XRP token as a commodity in contrast to the previous SEC’s token reference as a security.
XRP Futures finally debuted on the CME derivatives platform yesterday and recorded $1.5 million in trading volume on the first day itself. Even though 4 standard contracts traded, the majority of the trading activity came from 106 Micro XRP Futures contracts, which amounted to more than $1 million in volume.
Ripple CEO: XRP Futures Marks a Key Milestone
Ripple CEO Brad Garlinghouse wrote about XRP Futures trading on the CME Group on his X profile,
“The launch of regulated XRP Futures on CME Group marks a key institutional milestone for XRP, and very excited to report that Hidden Road cleared the first block trade on CME at the opening!”
XRP Futures trading on a renowned exchange such as CME is noteworthy. It further deepens the roots of the crypto market into traditional finance. Similar to how BTC and ETH Futures trading impacted the price action of these two cryptocurrencies, XRP Futures contracts on CME will also have an impact on the XRPmarket price.
The XRP market price surged 2.83% in the last 24 hours, trading at $2.36, thanks to XRP futures’ debut on the CME Group. Its trading volume decreased by 17%, indicating the price surge may not last long. The XRP Futures’ notable volume on the first day might not last long. However, its impact on the broader crypto market dynamics is commendable.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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