💥 XRP Futures Hit CME — $2.4M Volume Marks Bold Debut
XRP futures on CME Group's derivatives platform broke $2.4 million in trading volume in its debut.
XRP's position above the 50-, 100-, and 200-day EMAs suggests a temporary respite before the next breakthrough.
Ripple (XRP) trades flat around $2.34 on Tuesday, its second consecutive day of slight falls. This tight, range-bound activity corresponds with CME Group's derivatives platform's XRP futures debut. After the CFTC classified XRP as a commodity, CME Group may offer XRP futures contracts. The cash-settled institutional and retail product uses daily CME reference data.
XRP's price stayed constant as Bitcoin (BTC) and Ethereum (ETH) rose throughout the late American and Asian sessions on Monday and Tuesday.
The rise followed a Monday chat between US President Donald Trump and Russian President Vladimir Putin. Russia and Ukraine are likely to start negotiations immediately after President Trump suggested a truce.
Volume for XRP futures CME debut exceeds $2.4 million.
Monday's CME Group derivatives platform debut of XRP futures contracts saw $2.4 million in trading activity.
On the first day, nine regular XRP futures (each 50,000 XRP) traded for $1 million at $2.35, according to CME statistics.
Micro contracts dominated trade, reaching 236 at the conclusion of the day (each representing 2,500 XRP) and totaling over $1.38 million.
Cash-settled XRP futures contracts are benchmarked to the daily CME CF XRP-Dollar Reference Rate. This solution offers versatile hedging and trading techniques for institutional and ordinary traders.
On Monday, Ripple CEO Brad Garlinghouse wrote on X that “the launch of regulated XRP futures on CME Group marks a key institutional milestone for XRP.”
XRP sentiment has fluctuated in recent weeks, impacting market dynamics. This feeling stems from Judge Analisa Torres' rejection of Ripple and the SEC's combined petition for an indicative order to dissolve the $125 million penalty levied in 2024 in favor of a $50 million settlement fee.
