Coinbase has officially listed XRP Futures Contracts
Coinbase has officially listed XRP Futures Contracts on its US derivative exchange, significantly expanding the range of assets available for US regulatory oversight. According to the report published on April 21, traders would be able to access “regulated and capital-efficient ways of gaining exposure to one of the most liquid digital assets.”
Futures Contracts Overview
Reviewing the announcement, we found that the XRP futures would feature standard contracts that represent 10,000 XRP as well as retail-oriented nano contracts that also represent 500 XRP each. Explaining the Futures Contracts, experts outlined that it exists as a standardized agreement that guides the buying and selling of an underlined asset at a future date. Fascinatingly, Coinbase has been very successful in this type of trading. In December 2024, for instance, the exchange disclosed that its derivatives trading volume recorded an impressive surge of 10,950% within the year.
The recent listing of the XRP Futures Contracts is reported to accelerate the approval of the XRP Exchange Traded Fund (ETF), as the US Securities and Exchange Commission (SEC) has long mentioned the existence of a regulated futures market as an important requirement. Historically, both Bitcoin (BTC) and Ethereum (ETH) had their futures-based products entering the market before their official ETF approvals. As highlighted in our previous article, Coinbase has also launched Solana (SOL) futures after disclosing its filing with the US Commodity Futures Trading Commission (CFTC).
XRP Price Analysis
Despite this development, the price of XRP struggles to hold above its support level as it declined by 1.14% in the last 24 hours and 2.8% in the last seven days. At press time, the asset was trading at $2.1 with a daily trading volume of $2.45 billion.
Having observed this trend, analyst Edoardo Farina has disclosed that the current price of XRP presents a rare buying opportunity. According to Farina, holding just 1000 XRP could be a life-changing decision in the future. Meanwhile, analyst Egrag Crypto has predicted that XRP could hit $27, as discussed earlier. In this case, a 1000 XRP would turn to $27,000.
Amidst the backdrop of this, both retailers and whales are reported to be aggressively accumulating the asset. Santiment data discloses that addresses that hold between 1,000 to 100,000 XRP, as well as those holding 1 million to 100 million XRP, have a cumulative balance of 21.23 billion XRP tokens.
Speaking on the potential of the asset, an analyst called Aljarrah has argued that XRP at $100 is still undervalued. According to him, the asset has the potential to reach a six-figure price once it attains full adoption. Meanwhile, XRP is expected to hit $15 in the short term, as recently analyzed by CNF.