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CME Exchange Sees Record $1 Billion XRP Futures Open Interest in Just Three Months
CME Exchange Sees Record $1 Billion XRP Futures Open Interest in Just Three Months
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CME exchange News - XRP price has retreated 23% from its year-to-date high, entering bear market territory. Despite the downturn, technical and fundamental indicators suggest a potential September rebound. The Ripple USD (RLUSD) stablecoin supply has surged to a record $701 million, outpacing PayPal's PYUSD growth trajectory. This expansion enhances utility on the XRP Ledger. CME Group's XRP futures contracts have achieved $1 billion in open interest within just three months of launch - the fastest contract to reach this milestone. Institutional demand appears robust, with Wall Street participation driving derivatives activity. The combination of stablecoin adoption and derivatives market growth creates a bullish counter-narrative to recent price weakness.
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