The CME Group has announced plans to introduce XRP futures contracts on May 19, pending regulatory approval. This move is expected to significantly enhance the XRP market, offering a positive outlook for the cryptocurrency’s price. The derivatives exchange will offer both micro-sized contracts (2,500 XRP) and larger contracts (50,000 XRP), expanding its portfolio of regulated cryptocurrency derivatives.
In a press release, Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, stated that the introduction of XRP futures is a reflection of the growing institutional and retail adoption of the XRP Ledger (XRPL). He emphasized the importance of regulated derivatives in helping market participants manage risks while developing investment and hedging strategies.
Ripple CEO Brad Garlinghouse praised the announcement, calling it a significant yet overdue milestone in the growth of the XRP market. He noted that the launch aligns with Ripple’s broader goal of expanding XRP adoption, particularly through its payment services. Legal expert John Deaton also weighed in, pointing out the growing momentum for XRP holders following their victory over the U.S. SEC regarding XRP’s regulatory status.
The XRP futures will be cash-settled and based on the CME CF XRP-Dollar Reference Rate, a daily price rate calculated at 3 p.m. UTC. With this move, XRP becomes the fourth cryptocurrency to join CME Group’s suite of derivatives offerings, joining Bitcoin, Ethereum, and Solana.
The introduction of XRP futures also raises the possibility of a spot XRP ETF. A recent court ruling in the Grayscale case, which found no significant difference between futures and spot markets, has strengthened the argument for approving a spot ETF. This development positions XRP, along with Solana, as a front-runner in the race for an altcoin ETF, with the CME Group’s move further solidifying XRP’s standing in the market.
