XRP Price Reaches $2.22 as CME Group Announces Futures Launch
The XRP price rose to $2.22 amid a broader market rally influenced by US tariff reduction comments. However, it has begun to retrace, indicating a potential local peak.
CME Group Announces XRP Futures Launch
- The CME Group will launch futures contracts for XRP, capitalizing on recent price movements and the impending conclusion of the Ripple vs. SEC lawsuit.
- The contracts will be cash-settled, allowing speculation on XRP price movements without holding the asset.
- The launch is scheduled for May 19, pending SEC approval.
- Ripple CEO Brad Garlinghouse termed this development as significant for the XRP market.
- The XRP price surged above $2.20 following the announcement.
Sentiment Recovers Around XRP Price
- Despite a recent price decline, sentiment remains positive, with 88% of votes bullish according to CoinMarketCap.
- Analyst Armando Pantoja suggested bullish momentum after a bounce from key support above $2, targeting $2.50 for a potential 20% increase.
