CME Denies XRP Futures Listing Amid Rally Fatigue Concerns
The short-term outlook for payments-focused cryptocurrency XRP is negative, as major financial institutions show little interest beyond BTC and ETH. Recent price action indicates signs of rally fatigue.
- The Chicago Mercantile Exchange (CME) denied plans to list futures for XRP and Solana's SOL token.
- This denial suggests that institutions are not yet ready to engage with tokens outside BTC and ETH, possibly due to regulatory concerns.
- XRP's recent price surge to $3.4 followed a meeting between Ripple's CEO and Donald Trump, raising hopes for improved institutional adoption.
- The Mayer Multiple shows bearish divergence, indicating weakened bullish momentum.
- XRP is currently priced at $3.05, reflecting a 4% drop over the last 24 hours.
Overall, XRP's performance may depend on Bitcoin's movements, which could either support or challenge its current bearish signals.
