The CME’s recently launched XRP futures have quickly demonstrated the cryptocurrency’s widespread global interest, with nearly half of the trading activity occurring outside of U.S. market hours.
According to a spokesperson from CME, the combined volume of standard and micro XRP futures contracts reached $86.6 million across just six trading days. Notably, 46% of this volume happened during non-U.S. trading hours, highlighting strong participation from international traders.
XRP, known for its focus on fast and low-cost cross-border payments, is utilized by Ripple and the XRP Ledger (XRPL) to streamline global money transfers. The CME futures, which are cash-settled against the CME CF XRP-Dollar Reference Rate, provide investors an opportunity to gain price exposure without holding the cryptocurrency directly.
Standard contracts cover 50,000 XRP, while micro contracts represent 2,500 XRP, catering to a range of market participants.
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