The XRP rally could finally begin! $2.30 resistance and significance

An exciting time begins for XRP investors.

While the price consolidates at $2.19, both technical and fundamental indicators may signal a larger breakout in the coming days. In particular, the announcement of Ripple futures contracts by the CME Group and the crypto-friendly actions of the US Federal Reserve (Fed) strengthen the possibility of a new rally in the market. So what happens next if XRP breaks through the $2.30 mark?

CME announces XRP futures: Institutional power in action

The world's largest derivatives exchange, the CME Group, announced that it will introduce Ripple futures contracts on May 19. Subject to approval, these products will be available to institutional investors in two contract sizes: a 2,500 XRP micro contract and a 50,000 XRP standard contract. The pricing is based on the CME CF XRP-Dollar reference rate.

This move by the CME has the potential to bring XRP to the forefront of institutional portfolios, following Bitcoin, Ethereum, and Solana. According to Giovanni Vicioso, head of crypto products at CME, interest in XRP is continuing to grow in both retail and institutional sectors, and the new futures will be an important tool for investment and risk management strategies.

XRP benefits from the Fed and Ripple: Will $10 come in 2025?

There are also developments on the regulatory side that favor XRP. The US Federal Reserve's decision that banks no longer need to provide advance notice for crypto and stablecoin activities has significantly reduced uncertainty in the industry. This change could make it easier for banks to access XRP-based products.