Quick overview

Live XRP/USD Chart

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Price action shows less bullish momentum because Ripple and the Securities and Exchange Commission (SEC) have not been fully settled despite the launch at the world’s biggest futures exchange.

 

CME Group launched futures contracts for Ripple’s XRP, which will help XRP establish a presence in traditional financial markets. The debut trading volume surpassed $1.5 million +.

This asset class was introduced on Monday with the launch of two distinct contracts: XRP Futures at 50,000 tokens and Micro XRP Futures at 2,500 tokens.

The XRP futures on the derivative platform were introduced during a market unsure of its course. Additionally, the token continues to encounter regulatory obstacles.

Bloomberg ETF analyst Eric Balchunas shared a calendar for 72 ETFs linked to various altcoins. Markets observe that issuers’ deadlines are approaching in May, June, or during the summer, but the SEC will ultimately determine these deadlines this fall.

When Judge Analisa Torres rejected a proposed $50 million settlement between the two parties, citing procedural errors in their joint filing, it was a setback to a protracted legal battle with the US Securities and Exchange Commission and Ripple Labs over the status of XRP that many believed had finally come to an end.

Contractual specifications are also important. Volume on the Chicago-based platform was concentrated thanks to CME’s BTC and ETH contracts, which were traded when there weren’t many crypto derivatives available. Its XRP product, however, has entered a more competitive market with established rivals on Coinbase, Binance, and other platforms.