XRP futures have reached a record of $1 billion amidst growing institutional interest, but the price of XRP remains under pressure.
Institutional Demand Drives XRP Futures Growth
Ripple CEO Brad Garlinghouse highlighted the achievement of XRP futures on the CME Group, reaching $1 billion in open interest in just three months. This news has generated excitement within the XRP community, signaling increasing interest from institutional investors.
XRP Faces Price Pressure Amid Positive Developments
Despite the growing institutional interest, the price of XRP stands at $2.82, down 1.6% over the last 24 hours. This disconnect between the growth of futures and the price of the token raises questions among market participants.
Future of XRP in the Market
Community members are hopeful that the expected approval of spot XRP ETFs will positively affect the token's price. However, some critics express doubts that such instruments can sustain the growing interest in XRP.
Despite price pressures, the rising open interest in XRP futures and expectations of new investment products indicate a promising future for the token in an evolving cryptocurrency market.
