XRP Futures Launch on CME Sparks $30M Surge—Is a Spot ETF Next?

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XRP just got a major nod from the traditional finance world. The Chicago Mercantile Exchange (CME) recently launched XRP futures contracts, and institutions are piling in. The debut saw over $19 million in notional trading volume on day one, followed by another $10 million the next day. That’s nearly $30 million in just two sessions, signaling strong interest from big players.

Day One Trading Volume Crosses $19 Million—Momentum Continues

These CME contracts are cash-settled and benchmarked to the daily CME CF XRP-Dollar Reference Rate. Traders can choose between two sizes: standard contracts representing 50,000 XRP and micro ones for 2,500 XRP. Day one saw 7.5 million XRP traded in standard contracts and another 517,000 XRP in micro ones, with more micro trading activity picking up on day two.

XRP Futures Contracts: Key Details and Structure

This surge of interest has reignited chatter about a potential spot XRP ETF. Nate Geraci, President of The ETF Store, summed up the mood in a recent X post: “Spot XRP ETFs only a matter of time.” The launch of regulated futures is often a stepping stone toward ETF approval, as seen with Bitcoin and Ethereum.

Even with all the buzz, XRP’s price stayed mostly flat around $2.38, moving just 0.42% over 24 hours. But the bigger takeaway is the momentum building behind XRP in regulated markets, a key factor that could tip the scales toward that long-awaited ETF greenlight.

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XRP Price Analysis

XRP is flashing bullish signals after bouncing off a key demand zone, according to crypto analyst FrankFx14. On the 1-hour chart, the token reversed strongly between $2.31 and $2.37, which is historically significant support area for forming a bullish candle, and is often an early signal of a trend shift. As long as XRP holds above $2.37028, FrankFx14 believes the bullish momentum remains intact.

Meanwhile, analyst Crypto Avi offers a longer-term view, noting that XRP has officially broken out of a Falling Wedge pattern, a classic bullish setup. He believes this sets the stage for a “mega rally,” eyeing a mid-term target of $4.90.