XRP futures contracts began to quote on the CME Group derivative platform on May 19, registering at least $ 1.5 million in negotiation volume during the first session, a modest but remarkable debut for the main token.
CME data show 4 standard contracts (each representing 50,000 XRP) negotiated on the first day, for a total of around $ 480,000 in notional volume at an average price of $ 2.40. The majority of the activity came from 106 micro contracts (2,500 xrp each), which represents more than $ 1 million in additional volume.
The contracts are established in cash and compare the reference rate of Dollar CME CF XRP, which is published daily at 4:00 pm London time. The double contract structure of CME is designed to attract institutional players and smaller participants, offering flexibility for various coverage and trade strategies.
“The launch of Futuro XRP regulated in @cmegroup marks a key institutional milestone for XRP,” published the CEO of Ripple, Brad Garlinghouse, on X on Monday. He added that Hidden Road executed the first block trade.
The list follows the CFTC XRP classification as a merchandise, a regulatory green light that cleared the way for CME to offer these products.
Analysts say that the debut could also strengthen the case of an ETF Spot XRP, with the president of the ETF store, Nate Geraci, saying that said product is “only a matter of time.”
While the first volumes may seem modest, the inclusion of XRP in CME expands market dynamics for the main token in terms of price discovery, similar to the way the price action in the future BTC and ETH is affected when the US market is opened.
