Coinbase Launches XRP Futures After CFTC Approval

This marks a key step for institutional investors looking to trade XRP in regulated futures markets. Coinbase announced its plan earlier this month and filed to self-certify the product with the CFTC. The new futures contracts went live during the US evening session on April 21.

The nod was a part of a recent spate of easing of restrictions for crypto derivatives in the US by the CFTC. The regulator has been easing several constraints over the last few days, making ways for both legacy and new-generation firms to enter the market.

XRP has long been a popular asset due to its liquidity and global following. It’s also seen as a safer choice in the crypto space after gaining legal clarity from Ripple’s legal battle.

Supporting this launch, XRP’s network activity saw a sharp increase just days before the debut. On-chain data revealed that active addresses on the XRP network jumped by 67.5% between April 19 and 20. The figure climbed from 27,352 to 40,366 in just 24 hours.

While this is a positive sign for XRP’s growing market interest, its spot price dropped slightly by 1.26% in the same period. Analysts note that while futures listings can improve liquidity, short-term prices often move independently of such developments.