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By Omkar Godbole|Edited by Parikshit Mishra
Updated May 29, 2025, 7:36 a.m. Published May 29, 2025, 7:34 a.m.
- The CME’s XRP futures have attracted significant international interest, with nearly half of the trading volume occurring outside U.S. hours.
- In the first six days, the XRP futures reached a trading volume of 4,032 contracts, valued at $86.6 million.
- These futures allow traders to gain exposure to XRP without owning it, using cash-settled contracts based on a daily reference rate.
The CME’s recently launched XRP
futures underscore the cryptocurrency’s international appeal, with nearly half of its trading volume occurring outside U.S. trading hours.
The regulated XRP futures – standard and micro-sized contracts – began trading on the global derivatives giant a week ago, registering a total trading volume of 4,032, worth $86.6 million in the first six trading days, the exchange’s spokesperson told CoinDesk.
STORY CONTINUES BELOW
The spokesperson highlighted that “46% of the [total] volume occurred during non-U.S. hours” and nearly half of the trading comes from participants outside the U.S.
The data suggest strong international participation in the futures market. XRP is a payments-focused cryptocurrency primarily designed for fast and low-cost cross-border payments.
Ripple, a financial technology company, uses XRP and the XRP Ledger (XRPL) to facilitate international money transfers.
The CME’s standard and micro contracts, sized at 50,000 XRP and 2,500 XRP, respectively, are cash-settled and based on the SME CF CRP-Dollar Reference rate, which tracks the cryptocurrency’s price daily at 4:00 p.m. London time.
These futures enable traders to gain exposure to the cryptocurrency without actually owning it.
Omkar Godbole is a Co-Managing Editor on CoinDesk’s Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
