Coinbase Aims to Launch Regulated XRP Futures Trading

Leading cryptocurrency exchange Coinbase is taking a significant step towards expanding its derivatives offerings by seeking approval from the US Commodity Futures Trading Commission (CFTC) to launch an XRP futures contract. Here’s what you need to know about this potential move and its implications for the cryptocurrency market.

Coinbase Seeks CFTC Approval for XRP Futures Trading

Coinbase Derivatives has filed with the US Commodity Futures Trading Commission (CFTC) to launch an XRP futures contract. If approved, trading could commence as early as April 21, 2025. The proposal would allow Coinbase to self-certify the product, providing investors with a regulated, capital-efficient way to gain exposure to XRP through derivatives. This move could broaden institutional participation and enhance XRP’s legitimacy in traditional finance circles. Data from CryptoSlate shows that XRP was the best-performing top 10 cryptocurrency in the past 24 hours, gaining over 2% despite market weakness.

Coinbase Files with CFTC to Launch XRP Futures Contracts, But Price Declines

US-based crypto exchange Coinbase has filed with the Commodity Futures Trading Commission (CFTC) to launch futures contracts for Ripple’s XRP token. The move could have potentially fueled XRP’s price surge; however, the H1 chart indicates a bearish trend, with the price declining after an intraday resistance rejection. A bearish engulfing candle suggests a continuation of the downside momentum. The filing states that Coinbase intends to introduce a monthly cash-settled and margined contract, traded under the symbol XRL, with each contract representing 10,000 XRP, valued at approximately $20,000 at $2 per token. The contract is expected to go live on April 21.