The interest in XRP is on the rise. The trading activity shot up at the American derivatives fair, and trust is growing beyond. Analysts think that the market is still a lot of spot XRP ETF.
CME-Futures reach record: XRP fastest to 1 billion
At CME, the largest derivatives fair in the US, XRP-Futures have reached the limit of 1 billion dollars of outstanding contracts within three months. Never before has a crypto-future reached that level so quickly. For comparison: Solana (SOL) also exceeded that limit this week, but XRP was faster.
What are futures and outstanding contracts?
Futures are investment contracts in which traders focus on the future price of a currency. So they don’t have to possess the coin itself.
Outstanding contracts (open interest) is the total amount that is still ‘fixed’ in such bets. The higher that amount, the more money around in that market.
The total value of all crypto-futures on CME is now at $ 30 billion. This growth shows that large parties are increasingly stepping into crypto through regulated derivatives – and therefore also in XRP.
According to ETF analyst Nate Geraci, the market underestimates how great the interest is in a possible spot XRP ETF. He points out that there is already more than 800 million dollars in ETFs based on XRP-Futures.
Robinhood lowers a threshold for private investors
Not only big funds are stepping in. Admission has also become easier for private investors. Robinhood has been offering Micro XRP futures since 26 August. They require up to 75 percent less capital than standard contracts, so that a much larger group of investors can participate.
This not only ensures more liquidity, but also for more visibility of XRP as a serious investment option. The combination of professional and private intake reinforces the momentum.
Spot etf closer than expected?
It is therefore clear that there is interest in XRP. And more good XRP news is added. According to analysts, an approval of spot XRP ETFs can hardly go wrong anymore. October will be the big month in which the Securities and Exchange Commission (SEC) will have to make the decision. Several US asset managers recently adjusted their applications, which would be a positive signal.
An approval would put XRP alongside Bitcoin (BTC) and Ethereum (ETH), who previously received their own spot ETF. The impact on the price can be great, especially in view of the persistent inflow of institutional capital.
Source: https://newsbit.nl/heel-positief-ripple-nieuws-xrp-futures-snelst-ooit-naar-1-miljard-dollar/
