The Chicago Mercantile Exchange (CME) recorded more than $1.6 billion in cumulative notional volume for XRP futures since launch.
Micro XRP futures saw a historic high of 7,869 contracts traded, signaling increased retail participation.
This week, XRP price rocketed more than 26% above the $3 mark and returned to the spotlight of traders on both the spot and derivative markets. The bullish movement of the token is coupled with another significant increase in activity on the Chicago Mercantile Exchange (CME). The CME XRP futures have recorded an aggregate notional volume of more than $1.6 billion since their launch.
XRP Futures Trading Volume Skyrockets
On July 11 alone, total daily trading volume in XRP futures on CME surpassed $235 million across product types, according to a post on X. The trend highlights growing participation from both institutional and retail sectors.
With 7,869 contracts traded, micro XRP futures, especially, registered a new historic high in terms of the daily traded contracts. The micro product had open interest of 2,415 contracts, an indication of participation by players who attract retail. The micro-sized contracts with reduced capital requirements are an entry point into the world of regulated derivatives, where smaller traders can earn exposure to the price changes of XRP.
Trading in micro contracts alone resulted in more than 70 million XRP changing hands in one day. This influx is partly facilitated by their availability through applications like Robinhood, which have expanded the availability of digital asset derivatives and significantly reduced the entrance threshold to personal traders.
In the meantime, regular XRP futures at CME saw stable purchases and a number of filed contracts with 1,245 contracts exercised on July 11, the same as it was measured in terms of open interest, i.e., the number of contracts which were offered or sold but not pitched. These bigger contracts have continued to appeal to the institutions that desire more valuable jobs to hedge and elaborate strategies. As mentioned in our previous post, XRP could be heading for a historic 2025.
Further, the liquidity and structure of standard XRP futures suit professional trading desks seeking exposure to crypto assets through compliant and risk-managed channels.
Whilst market participants are increasingly using CME’s suite of XRP products to manage volatility and build structured strategies around Ripple’s native token. The increasing volume and open interest shows how there is a regulated shift in crypto derivatives, and as markets are maturing and more and more conventional financial investors are entering the crypto market.
Overview of the Recent XRP Price Surge
These new products highlight the increased adoption of XRP in the crypto derivative market arena, while the spot prices are moving higher at a faster pace than the multi-year history. Thus, the altcoin managed to retain major gains at the moment despite a drop in the last 24 hours. Market analysts expect XRP price can rally further to $10, as reported by CNF.
As of writing, the XRP price dipped 2.16% to $2.91 on Tuesday, July 15. However, it still boasts a 27% surge in the last seven days as the crypto market surged significantly amid Bitcoin’s price surge to the $123,000 mark.
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