Coinbase Launches XRP Futures, Giving Traders a CFTC-Approved Way to Go Long or Short

This means new capital is stepping in, either to speculate or hedge. Add technical indicators leaning bullish and a risk-on tilt across the crypto board

Coinbase has begun offering futures contracts for XRP on its US derivatives exchange, as confirmed by a recent filing with the Commodity Futures Trading Commission (CFTC).

The move, which was first reported by The Block, opens a new avenue for traders to express bullish or bearish sentiment on one of the most well-known cryptocurrency tokens.

According to the filing, the contracts went live on April 21, highlighting a capital-efficient route for institutions to gain exposure to one of the most liquid assets in the crypto market.

However, XRP's price performance in the immediate aftermath of the news might not necessarily be spurring immediate buying opportunities.

As of press time, XRP is trading at US$2.08, showing a 0.2% decrease in the last hour and from the previous day. In the weekly perspective, the token has slid by 2.6%.

This lackluster performance stands in contrast to the broader crypto market, which has seen positive trends. Bitcoin price broke through the US$88K mark, while the majority of altcoins are trading in the green.

The crypto Fear and Greed Index also climbed to 39, pulling back from the "extreme fear" levels that were triggered earlier this month by Trump's threat of tariffs, which have now been postponed for 90 days.

According to data from analytics platform Glassnode, Bitcoin derivatives open interest has seen a 3% decrease, suggesting a slight reduction in leveraged trading activity.

The move comes after the SEC dropped its case against Ripple Labs. The crypto industry is still awaiting a verdict on the appeal filed by the SEC against the lower court ruling.