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XRP Futures Coming Soon: CME Group Set To Expands Crypto Products On May 19
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XRP Futures Coming Soon: CME Group Set To Expands Crypto Products On May 19

Ronaldo Marquez
Ronaldo Marquez
1 month ago
3 mins read
XRP

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CME Group, the world’s largest derivatives marketplace, has announced plans to launch XRP futures contracts on May 19, pending regulatory approval. 

This move is expected to enhance trading opportunities for both institutional and retail investors, providing them with innovative tools to manage their exposure to the digital asset landscape.

Growing Demand For XRP

The new XRP futures will be available in two contract sizes: a micro-sized contract of 2,500 XRP and a larger contract of 50,000 XRP. Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, emphasized the growing interest in XRP and its underlying ledger, the XRP Ledger (XRPL). 

“As innovation in the digital asset landscape continues to evolve, market participants look to regulated derivatives products to manage risks across a wider range of tokens,” Vicioso noted. 

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According to the announcement, the introduction of these XRP futures contracts aims to offer a capital-efficient way for clients to implement their investment and hedging strategies.

These futures will be cash-settled and based on the CME CF XRP-Dollar Reference Rate, which provides a daily assessment of XRP’s value against the US dollar, calculated each day at 4:00 PM London time, ensuring that the pricing remains transparent and reflective of the market conditions.

The XRP futures will join CME Group’s expanding suite of cryptocurrency offerings, which already includes futures and options for Bitcoin (BTC), Ethereum (ETH), and recently introduced Solana (SOL). 

Q1 Trading Volume Surges 141%

The performance of CME’s crypto products has been impressive, with Q1 trading highlights revealing an average daily volume of 198,000 contracts, equating to approximately $11.3 billion in notional value—up 141% year-over-year. 

Additionally, the average open interest has grown to 251,000 contracts, representing a notional value of $21.8 billion, marking an 83% increase from the previous year.

In a related development, Robinhood has expressed its intent to offer CME Group’s XRP futures, expanding access for retail investors. JB Mackenzie, VP and GM of Futures and International at Robinhood, stated, “Our customers have shown a deep interest in digital assets, and they will soon be able to access an even wider variety of crypto futures.” 

This integration will allow Robinhood users to trade up to 40 futures products, utilizing a mobile trading platform designed for speed and precision similar to that of institutional traders.

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The demand for regulated access to digital assets is underscored by the recent success of the Teucrium 2x Daily Long XXRP ETF, which achieved $35 million in assets under management within its first ten trading days. 

Sal Gilbertie, CEO of Teucrium, highlighted the importance of XRP, stating, “XRP was purpose-built for real financial use cases and today facilitates global value transfers through the fast, low-cost XRP Ledger.” 

He views the upcoming listing of XRP futures by CME Group as a pivotal milestone in the evolution of the cryptocurrency ecosystem.

XRP
The daily chart shows XRP’s price recovery. Source: XRPUSDT on TradingView.com

When writing, XRP trades at $2.20, recording a 6% surge in the weekly time frame. 

Featured image from DALL-E, chart from TradingView.com 

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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