Coinbase Institutional has officially filed with the Commodity Futures Trading Commission to introduce futures contracts linked to the XRP token. The announcement was made through an X post by Coinbase Derivatives, confirming that the proposed contracts may go live on April 21, 2025.
According to the filing, the XRP futures will trade under the ticker XRL and be cash-settled and margined. Each contract will represent 10,000 XRP tokens, equivalent to roughly $20,000, based on the current price of $2 per token.
Institutional traders can trade the contracts through the current month and the next two months. A price volatility mechanism will check trading events when the XRP spot price movement surpasses 10 percent in a one-hour duration.
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Coinbase Follows Bitnomial in Expanding U.S. XRP Futures Market
Coinbase’s move makes it the second platform in the U.S. to roll out a regulated XRP futures product. Bitnomial, a Chicago-based derivatives exchange, launched its CFTC-approved XRP futures in March, setting the stage for broader institutional adoption.
XRP futures at Coinbase will help XRP gain a stronger standing in U.S. derivatives markets. Institutions now have an opportunity to access XRP market value through this trading instrument while maintaining regulatory alignment and achieving improved capital efficiency.
The recent market decline of cryptocurrencies has put XRP at a 2% depreciation point across the previous day. The marketplace correction has impacted XRP, yet its traders maintain substantial market depth and trading activity.
Better price discovery and risk management systems will become accessible to market participants due to XRP’s futures with regulatory oversight. The new filing from Coinbase seeks to draw in institutional investors who want organized access to XRP markets.
The XRP community has welcomed the update as a positive step toward greater legitimacy and mainstream integration. As regulated platforms increase support for XRP, the token’s market profile will likely benefit from improved investor access and transparency.
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