CME Group Expands Crypto Derivatives With XRP Futures

CME Group, the leading derivatives marketplace, announced its plan to launch XRP futures contracts on May 19, pending regulatory approval.

Crypto derivatives exchange CME Group is planning to launch XRP futures contracts on May 19, pending regulatory approval, the exchange announced.

The exchange will offer micro-sized (2,500 XRP) and larger-sized (50,000 XRP) futures contracts for XRP, which will be cash-settled and pegged to the CME CF XRP-Dollar Reference Rate, calculated daily at 4:00 PM London time.

“Interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption for the network grows, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients’ investment and hedging strategies,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group.

These futures will join the CME Group’s expanding crypto derivatives suite that already includes Bitcoin, Ethereum, and, more recently, the SOL futures, which recorded over 43,000 contracts traded since the March launch.

CME’s launch of regulated XRP futures will further legitimize this asset and boost its institutional adoption.

XRP price shows resilience above $2 support

XRP price has shown notable resilience above the $2 support during Thursday’s U.S. market session. The buying pressure is triggered with the recent announcement of the upcoming launch of XRP futures contracts by the CME Group.

Will the new trading instrument push the price past the $3 resistance?

XRP/USD 4-Hour Chart

As the IVECO 4-hour chart shows, the XRP price has showcased a low-volatility consolidated trend is hinting at sustainability above the $2 psychological support. However, the neutral candles suggest buyers’ and sellers’ lack of conviction.

A deeper analysis of the 4-hour chart shows this lateral trend of shoulder formation in an inverted head and shoulder reversal pattern.

The formation displays three troughs, consisting of a middle ‘head’ enveloped by the two shallower ‘dips’ before a major breakout.

Currently, the Ripple cryptocurrency trades at $2.19, just 3% short of surpassing the neckline around $2.3. The potential breakout will signal the initial change in market sentiment and drive a 31% surge to hit $3.

Alternatively, if price fails to surpass overhead resistance, the market uncertainty could renew sellers’ influence on this asset for another downswing.