CME Group has announced a record one billion dollars in open interest for its XRP futures, underlining growing interest from institutional investors.
Record Open Interest for XRP Futures
According to CME Group data, XRP futures contracts reached an open interest milestone of one billion dollars at an unprecedented pace. This success was achieved following the earlier launch of Solana-based futures and reflects significant interest from institutional and professional investors.
Current Outlook on Futures Market
The total open interest of CME’s cryptocurrency futures has surpassed 30 billion dollars for the first time, with 16 billion dollars attributed to Bitcoin futures and 10.5 billion dollars to Ethereum futures. CME remains a key player in the market since introducing regulated Bitcoin futures in late 2017.
XRP Price Overview
Despite the activity in the derivatives market, XRP's price has been struggling amid an overall market decline, dropping over 2% in the last 24 hours to below 2.90 dollars. At the time of reporting, XRP was trading at 2.91 dollars, indicating a slight recovery.
The record open interest for XRP futures signifies growing interest in cryptocurrencies, but the current price decline of XRP shows that the market is still under pressure.
