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While the cryptocurrency markets remain active, XRP has once again become a hot topic. Leading exchange Bitnomial Exchange announced it will launch a futures contract for Ripple’s XRP. This step aims to increase XRP’s market accessibility while also strengthening the altcoin’s liquidity.
Futures Contract Notification for XRP Sent to CFTC
Bitnomial Exchange officially notified the U.S. Commodity Futures Trading Commission (CFTC) of its plans to list an XRP/USD futures contract. Named XUS, this contract will be physically delivered and margin-based. Each contract will reflect the value of 100,000 units of XRP. This self-certification process with the CFTC shows that the new contract independently meets all relevant regulations and standards. This process allows Bitnomial to list the contract without CFTC approval.
This development is seen as a significant step to expand the market reach and liquidity of Ripple’s XRP. The futures contract offers investors the opportunity to speculate on XRP’s price movements, potentially attracting institutional investors. This situation particularly highlights the growing confidence in XRP’s market potential. Confidence has notably increased especially after the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) ended in favor of Ripple and XRP.
Spot XRP ETF Gains Attention Again
The announcement of the futures contract has reignited speculation about the launch of an exchange-traded fund (ETF) for XRP. The classification of the altcoin as not being a security has given many market observers hope that an ETF could be launched soon. In this context, ETF Store President Nate Geraci expressed his expectations on social media regarding the timing of a spot XRP ETF launch. Geraci’s comments reflect the optimism shared in the cryptocurrency world.
The resolution of the lawsuit between Ripple and the SEC marked a critical turning point for XRP. The court ruled that Ripple’s sale of XRP to individual investors through exchanges did not violate federal securities laws. The decision increased regulatory acceptance of the altcoin and bolstered confidence in a potential spot ETF launch. The launch of a spot ETF could create new investment opportunities and further legitimize XRP among institutional investors.
In light of all these developments, the XRP price rose by 2.43% in the last 24 hours to $0.5789. Analysts believe that positive expectations around a potential ETF launch could lead to a 22% rally for XRP.
