$1.6 Billion XRP Surge: Here's What's Unfolding

$XRP has recently achieved a significant milestone on the derivatives market, gaining market attention. CME-traded $XRP and Micro $XRP futures have crossed over $1.6 billion in total notional volume traded since their official launch, demonstrating growing demand for regulated $XRP investment products.

$XRP futures started trading on the Chicago Mercantile Exchange’s (CME) derivatives platform in May, becoming the first regulated futures tracking the price of $XRP in the U.S.

The launch began with two contract sizes for $XRP: micro futures 2,500 $XRP and standard futures 50,000 $XRP, both cash-settled and based on the SME CF $XRP-Dollar Reference Rate, which tracks the price of $XRP.

On July 11, CME-traded $XRP contracts reported a single-day notional trading volume of $235 million, setting a new record for the futures suite.

This surge pushed the total notional volume over the $1.6 billion mark — a huge feat in a relatively short period. On this date, over 9,100 contracts were traded, over 82 million $XRP equivalent was marked, and volume for Micro $XRP contracts reached a record.

These numbers not only reflect strong trader interest but also validate $XRP’s growing presence on institutional markets. With both standard and micro-sized contracts available, $XRP futures will gain interest from hedge funds to individual speculators.

$XRP Futures ETF set to launch in days

The ProShares $XRP Futures ETF, due to launch on July 18, has introduced a new capital allocation vector, particularly for pension and endowment portfolios.

At press time, $XRP was down 3.4% in the last 24 hours to $2.91, amid a 27% weekly surge that saw it climb to $3.03 in a six-day surge.

If regulatory clarity improves and the ProShares ETF vehicle gains traction, $XRP may see renewed inflows, expanding its institutional interest.