XRP has once again secured its position as the third-largest cryptocurrency by market capitalisation, reclaiming the spot from Tether (USDT) after briefly slipping to fourth place. At the time of writing, XRP boasts a market cap of US$151 billion (AU$233.1 billion), thanks to a 2.5% price increase, pushing its value to US$2.56 (AU$3.95).
Despite the gain in price and market cap, XRP’s 24-hour trading volume fell sharply—down 43% to US$6 billion (AU$9.3 billion). The recent rally is largely attributed to renewed speculation surrounding a potential XRP exchange-traded fund (ETF), which has captured investor attention and driven positive sentiment in the market.
CME Group to Launch XRP Futures on May 19
Adding to the bullish momentum, the CME Group confirmed it will launch XRP futures on May 19, introducing both micro and standard contracts to cater to a diverse range of traders.
Micro Contracts (2,500 XRP): These are designed for retail investors and smaller institutions, offering lower margin requirements and precise position sizing—ideal for targeted hedging strategies.
Standard Contracts (50,000 XRP): Tailored for institutional and high-frequency traders, these contracts offer greater liquidity and tighter spreads, making them efficient tools for managing substantial XRP exposures.
Both contract types will be cash-settled daily using the CME CF XRP-Dollar Reference Rate, allowing for transparent pricing without requiring physical delivery of tokens.
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, highlighted the increasing adoption of XRP by both institutional and retail participants, noting that the new futures contracts aim to provide a “capital-efficient toolset” for both investment and risk management.
From Mistake to Milestone
The announcement of XRP futures comes after a January website error by CME Group that mistakenly hinted at impending launches for both SOL and XRP futures. While initially dismissed, the official confirmation of XRP futures is now being hailed as a logical step. Bloomberg ETF analyst James Seyffart, who previously commented on the error, said the move “makes sense” given the growing interest in the XRP Ledger.
As the May 19 launch approaches, XRP’s market performance and investor sentiment are likely to remain buoyant, with futures trading offering both speculative opportunities and hedging mechanisms for market participants.
