Trading of $XRP futures on the CME group rose to a combined notional volume of $25.6 million in the first two days of its launch. This marks a strong start for the altcoin's entry into organized derivatives markets. Meanwhile, XRP$ continues to trade below $2.50, having declined by 7% in the past week.
XRP$ futures contracts see strong debut on CME
CME began trading XRP$ futures on May 19, offering standard contracts (50,000 XRP) and mini contracts (2,500 XRP).
According to official CME data and confirmed reports, 120 standard contracts and 206 mini contracts were traded on May 19, totaling approximately 6.5 million XRP$.
On May 20, the exchange recorded 59 standard contracts and 485 mini contracts, adding 4.1 million XRP$ to the total.
Therefore, using the current market price of XRP$ at $2.39, the total trading volume over the two days equals approximately $25.6 million.
This volume puts XRP$'s debut ahead of other altcoin launches on CME. Solana contracts
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The futures, which launched in March 2025, recorded $12.3 million in notional volume on the first day.
In contrast, Bitcoin and Ethereum had more modest beginnings in their early days. BTC$ futures were launched in 2017, followed by ETH$ in 2021—although both have since become institutional cornerstones.
The futures reflect the spot price of XRP$, indicating a stable outlook.
XRP$ futures contracts on CME are cash-settled and based on the CME CF XRP-Dollar reference rate. This rate is updated daily at 11 AM Eastern Time.
This structure means that the futures are closely tied to the spot market. With XRP$ currently trading at $2.39, the futures are not reflecting a premium or discount. This suggests that traders expect price stability in the short term.
So far, there is no indication of a strong bullish or bearish sentiment among futures participants. This may reflect a broader market hesitation or simply the fact that participants are using the contracts for hedging rather than speculation.
The successful debut highlights growing institutional interest in XRP$, especially after regulatory clarity around Ripple's operations.
Overall, it sets the stage for future growth as traders explore more sophisticated ways to gain exposure to XRP$ in a regulated environment.