CME Group to Debut XRP Futures Amid Momentum
CME Group, the world’s largest derivatives exchange, is preparing to launch futures contracts tied to XRP, the digital asset associated with Ripple Labs. The product’s launch on May 19 will be an important step in bringing XRP into mainstream finance.
People started talking about it when a beta page for XRP futures randomly appeared on the CME website. Even though CME stated the page was only for testing, everyone’s attention was piqued and excitement rose among traders.
After that, CME published official confirmation, confirming what many people already expected: XRP has been selected to become one of the institutional-quality assets at CME.
XRP Price in Focus Ahead of Futures Launch
This action comes after CME debuted Solana futures earlier in the year, underlining the exchange’s growing push to add more digital assets. After being considered a divisive digital token due to legal questions, XRP appears to be welcomed by institutions now.
In July 2024, CME introduced XRP pricing indices, a move Ripple CEO Brad Garlinghouse said was necessary before institutional products could be released.
Before CME entered the market, Bitnomial introduced regulated XRP futures contracts in the U.S. last March. However, in involving CME, the market gains a new dimension of authority and size.
Analysts are closely checking to see if the price of XRP, at $2.56 on CoinGecko, will change. Historical precedent offers mixed signals: Just a few weeks after CME listed Bitcoin futures, Bitcoin hit its all-time high but then entered a long bear market.
While nobody can say for sure whether XRP will follow the same path as Bitcoin, there are still some experienced crypto users who are concerned.
It’s also significant because the launch might lead to spot-based XRP ETFs being approved and available later this year, as long as the regulators give their approval. Important names in the industry like Franklin Templeton and Bitwise have put in their applications, making it clear that institutional players are interested.
