CME Group noted a successful launch of XRP and Micro XRP futures on May 19, with metrics that confirm interest in this crypto asset.
First Week of XRP Futures Trading
Since the launch of XRP and Micro XRP futures on CME Group, over 24,600 contracts have been traded, totaling more than $542.8 million. Notably, nearly half of this activity came from outside the United States.
Trading Volume and Open Interest Dynamics
CME reported that on launch day, XRP futures trading volume reached $19.3 million spread across 15 firms and four retail platforms. Open interest in the contracts has steadily increased, currently standing at $70.5 million, highlighting sustained investor interest.
Institutional Moves and Ledger Growth
According to CME, increased usage of the XRP Ledger, active wallets, and transaction volume is supported by Ripple's recent strategic acquisition of Hidden Road. This deal, along with the launch of the new RLUSD asset, enhances transaction liquidity and supports XRP Ledger adoption, likely contributing to broader XRP use in institutional finance.
The launch of XRP futures demonstrates rising interest from both institutional and retail participants, potentially fostering further adoption and dissemination of this digital asset.
