The demand demonstrates the growing popularity of these products. The exchange platform commented in a post on X that Micro XRP futures registered their highest daily trading volume in history.
On July 11, CME stated that more than 9,100 futures contracts were traded. These contracts represent over 82 million XRP tokens.
On July 11, a notable spike occurred in the trading volume of both XRP futures products. Standard XRP futures had a volume of 1,245 contracts and an open interest of 1,258 contracts.
Reaching a record volume of 7,869 contracts in Micro XRP futures, open interest increased to 2,415. The evident breakout at this peak shows strong demand from both institutional and retail market participants.
Trading volumes are breaking records, which means these futures products offered by CME are becoming an essential component of the market. While retail demand remains steady, institutional investors are showing greater interest in XRP futures products. The CME Group recently described XRP as one of the most watched crypto assets in its market since its launch.
CME's structured offerings allow these participants to gain exposure to the price while managing risk. As more traders seek regulated products, platforms like CME are expanding their cryptocurrency offerings with these XRP futures.