XRP Futures Surpass $1 Billion Open Interest in Three Months

Ripple's XRP futures on the Chicago Mercantile Exchange (CME) have surpassed $1 billion in open interest, marking the fastest growth for any futures contract on the platform within three months of launch. This milestone reflects heightened institutional interest and liquidity.

XRP Futures Milestone Highlights

XRP futures crossed $1 billion open interest, indicating strong institutional engagement.
The milestone suggests tighter spreads and pricing behavior similar to major cryptocurrencies like Bitcoin and Ethereum.
Analysts note large funds are investing in XRP despite current price pressures.
Growth in futures often leads to options market expansion and potential spot ETF traction.
The development coincides with Ripple’s introduction of RLUSD, a dollar-backed stablecoin.

SEC Decision on XRP ETF Applications

Several issuers submitted amended S-1 applications for a spot XRP ETF, anticipating SEC approval by the end of October.
The SEC has postponed decisions for some applications to October 24, with initial deadlines starting from October 18 for Grayscale's filing.
Analysts predict simultaneous approvals for pending XRP ETFs, similar to previous Bitcoin and Ethereum ETF decisions.