XRP Futures Contracts on CME Group Will Launch on Monday, May 19

CME Group, the world's largest regulated derivatives marketplace, plans to introduce XRP and Micro XRP futures contracts on May 19

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input: XRP price showed muted movements on Monday despite a potential catalyst looming in the form of regulated futures trading set to begin on the Chicago Mercantile Exchange Group (CME).

The token has been range-bound between $2.32 and $2.62 for the past week and is currently holding steady at $2.37, showing an increase of just 0.7% in the last 24 hours.

Even though the price has been moving sideways, market activity has risen dramatically. The 24-hour trading volume of XRP (XRP) increased by 46.8% to $3.2 billion, highlighting renewed interest among traders.

Meanwhile, open interest decreased by 0.26%, but derivatives volume increased by 48%, according to Coinglass data. This discrepancy indicates a rise in short-term positioning without long-term conviction, perhaps in preparation for the upcoming derivatives launch.

CME Group, the world’s largest regulated derivatives marketplace, plans to introduce XRP and Micro XRP futures contracts on Monday, pending final regulatory approval.

According to CME Group’s notice on April 24, each contract will be cash-settled based on the CME CF XRP-Dollar Reference Rate and represent 50,000 and 2,500 XRP, respectively.

CME has been expanding into crypto derivatives after making its debut with Solana (SOL) futures in March. As the fourth-largest cryptocurrency by market capitalization, XRP’s inclusion in CME’s portfolio may pave the way for greater institutional involvement.

From a technical perspective, XRP is currently in a consolidation stage. With no momentum in either direction, key indicators such as the relative strength index and the MACD point to a neutral trend.

The longer-term trend is still in place as XRP is still above the majority of its mid- and long-term moving averages, including the 50-day and 200-day averages.

The key support zone lies near $2.30, which has held firmly in recent sessions. A break below this level could expose the $2 zone. On the upside, resistance is forming around $2.60. A breakout could lead to a retest of the highs from April above $2.80.

output:

Monday saw limited changes in XRP price despite a potential catalyst looming - regulated futures trading is set to begin on the Chicago Mercantile Exchange Group (CME).

The token has been range-bound between $2.32 and $2.62 for the past week and is currently holding steady at $2.37, showing an increase of just 0.7% in the last 24 hours.

Even though the price has been moving sideways, market activity has risen dramatically. The 24-hour trading volume of XRP (XRP) increased by 46.8% to $3.2 billion, highlighting renewed interest among traders.

At the same time, open interest decreased by 0.26%, but derivatives volume increased by 48%, according to Coinglass data. This discrepancy indicates a rise in short-term positioning without long-term conviction, perhaps in preparation for the upcoming derivatives launch.

CME Group, the world’s largest regulated derivatives marketplace, plans to introduce XRP and Micro XRP futures contracts on Monday, pending final regulatory approval.

According to CME Group’s notice on April 24, each contract will be cash-settled based on the CME CF XRP-Dollar Reference Rate and represent 50,000 and 2,500 XRP, respectively.

CME has been expanding into crypto derivatives after making its debut with Solana (SOL) futures in March. As the fourth-largest cryptocurrency by market capitalization, XRP’s inclusion in CME’s portfolio may pave the way for greater institutional involvement.

From a technical perspective, XRP is currently in a consolidation stage. With no momentum in either direction, key indicators such as the relative strength index and the MACD point to a neutral trend.

The longer-term trend is still in place as XRP is still above the majority of its mid- and long-term moving averages, including the 50-day and 200-day averages.

The key support zone lies near $2.30, which has held firmly in recent sessions. A break below this level could expose the $2 zone. On the upside, resistance is forming around $2.60. A breakout could lead to a retest of the highs from April above $2.80.

Traders will be closely watching to see whether institutional demand through CME will provide the momentum required to end XRP’s current consolidation, with volatility expected to return amid the launch.