Coinbase Announces XRP (XRP) Futures Contracts, Sparking New Round of Price Predictions

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Coinbase is set to list XRP (XRP) futures contracts on its U.S. derivatives exchange, beginning April 21st, offering traders a “regulated, capital-efficient way to gain exposure to one of the most liquid digital assets.”

The listing of XRP futures marks a significant step in expanding mainstream access to digital asset derivatives. As one of the leading cryptocurrency exchanges in the U.S., Coinbase is providing traders with a familiar and trusted platform to engage in crypto futures trading.

“We’re committed to providing our clients with the products and services they need to navigate the digital asset markets efficiently and effectively,” said Conor O'Neill, Chief Operating Officer at Coinbase Institutional. “This launch underscores our dedication to expanding our offerings and catering to the evolving demands of the institutional community.”

The introduction of XRP futures on Coinbase Derivatives follows the integration of BTC futures and ETH futures earlier this year. This expansion of futures offerings on Coinbase’s U.S. derivatives exchange aims to provide institutions with a comprehensive suite of products and services.

With a focus on deep liquidity, low trading fees, and advanced risk management tools, Coinbase Derivatives is designed to meet the specific needs of institutional traders in the digital asset space.

As Coinbase expands its product offerings and services, it continues to play a key role in connecting the traditional financial markets with the decentralized and rapidly evolving ecosystem of Web3.

In other news, a crypto analyst is examining the potential for a significant price swing in XRP.

According to technical analysis shared by crypto analyst Ali Martínez, commonly known as "Ali on Tech," Bollinger Bands are converging on the four-hour chart of XRP/BTC. This indicates that the cryptocurrency could be preparing for a move.

#XRP might be setting up for a big swing. Bollinger Bands are converging on the 4-hour chart, which could indicate that a move is imminent.

It is still unclear what direction the price will go and where it could reach. However, there is a growing belief that an breakout is due. As of…

— Ali (@ali_on_tech) April 19, 2024

This analysis suggests that XRP could be poised for a breakout, which could lead to a substantial increase or decrease in price. The analyst's observations align with the cryptocurrency's recent price performance, showcasing its resilience in the face of market volatility.

As of 08:24 ET on 21 April, XRP is trading at $1.99, showcasing a minor recovery from the recent lows around $1.8. This price point is still 38.90% below XRP's all-time high (ATH) of $3.40, which was reached in January 2018, highlighting the significant gains XRP has achieved in recent years.

However, it's important to note that XRP faces resistance at its 50-day and 100-day Exponential Moving Averages, which could hinder further upward movement in the short term.

As Coinbase launches XRP futures on its U.S. derivatives exchange, traders are speculating on whether XRP could hit a new all-time high in 2025.

The introduction of XRP futures is part of Coinbase's broader strategy to expand its product offerings and services to meet the evolving demands of the institutional community.

“We are committed to providing our clients with the products and services they need to navigate the digital asset markets efficiently and effectively,” said Conor O'Neill, Chief Operating Officer at Coinbase Institutional.

The launch of XRP futures follows the integration of BTC futures and ETH futures earlier this year. These futures offerings are available on Coinbase’s U.S. derivatives exchange, which is designed to provide institutions with a deep liquidity venue, low trading fees, and advanced risk management tools.

Coinbase is a leading cryptocurrency exchange in the U.S., operating a spot exchange and a U.S. derivatives exchange. The platform offers a wide range of digital asset products and services, catering to both retail and institutional clients.

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