Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Amid a broad crypto market recovery, XRP derivative products on CME Group, a leading crypto derivatives exchange, have seen impressive growth due to increased demand from investors.
On Thursday, October 23, the exchange moved to X (formerly Twitter) on share notable milestones achieved through its XRP futures offerings that launched five months ago. The surge means a significant increase in demand for CME’s crypto derivatives tied to XRP.
XRP crushes $29.6 billion milestone on CME
According to data shared by CME, the exchange has seen more than 567,000 XRP and Micro XRP futures contracts traded on its derivatives market over the past five months. Notably, this massive contract volume helped CME hit record cryptocurrency volumes, driven largely by the launch of XRP futures in May.
The data further revealed that the total volume of futures contracts based on XRP represents a notional volume of USD 26.9 billion, which corresponds to approximately 9 billion XRP traded on the platform.
The exchange highlighted that these impressive numbers reflect a growing appetite among professional investors for exposure to regulated derivative products based on XRP.
Options on XRP futures are launched on CME
Following the strong performance of its XRP futures, CME Group has confirmed that options on XRP futures are now live.
While CME users have long anticipated the launch of XRP futures options, it now provides traders and institutions with the opportunity to use more sophisticated tools to hedge or speculate on the price of XRP – all with the transparency and regulatory safeguards of a US-based exchange.
What does this mean for XRP?
With CME unveiling plans to offer 24/7 crypto futures and options trading starting early next year, demand for XRP-based products is expected to reach unprecedented levels – potentially putting XRP on a major rally.
The move will provide institutional investors on the CME with more avenues and extended trading hours to access existing and newly initiated options contracts linked to XRP.
Notably, these developments position XRP for a significant boost in institutional adoption, potentially propelling its market price to new and unexpected levels.
