Ripple CEO Reacts to Major $XRP Milestone
Ripple CEO reacts to major XRP milestoneYesterday, May 19, CME Group (NASDAQ:CME) announced the launch of XRP and Micro XRP futures on the X platform. Ripple CEO Brad Garlinghouse praised the development, calling it "a key institutional milestone for XRP." From now on, institutional players will be able to gain exposure to XRP without owning the actual coin. Traders can also trade futures outright or agree to buy or sell them on a fixed basis to the day’s index close, with large trades facilitated through block trades. According to Garlinghouse, Ripple’s acquired prime brokerage firm, Hidden Road, executed the first block trade at market open. Despite the futures launch, XRP is now trading down 0.33% over the past 24 hours, per CoinMarketCap. However, the lack of volatility is not surprising, as the futures were initially announced in April.
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