XRP, the cryptocurrency of global payment company Ripple, showed notable resilience above $2 support during Thursday’s U.S. market session. The buying pressure was triggered with the recent announcement of the upcoming launch of XRP futures contracts by the CME Group. Will the new trading instrument push the price past the $3 resistance?
CME Group Expands Crypto Derivatives With XRP Futures
Apr 24, 2025 CME Group, the leading derivatives marketplace, announced its plan to launch XRP futures contracts on May 19, pending regulatory approval. The expansion will allow market participants access to micro-sized (2,500 XRP) and larger-sized (50,000 XRP) futures contracts.
These XRP futures will be cash-settled and pegged to the CME CF XRP-Dollar Reference Rate, calculated daily at 4:00 PM London time.
“Interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption for the network grows, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients’ investment and hedging strategies,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group.
XRP futures join the CME Group’s expanding crypto derivatives suite that already includes Bitcoin, Ethereum, and, more recently, the SOL futures, which recorded over 43,000 contracts traded since the March launch.
CME’s launch of regulated XRP futures will further legitimize this asset and boost its institutional adoption.
Inverted Head and Shoulder Pattern Sets $3 Breakout Rally
Since April 12th, the XRP price has showcased a low-volatility consolidated trend hovering above $2 psychologically. The sideways action hints at sustainability above the aforementioned support, but the neutral candles suggest buyers’ and sellers’ lack of conviction.
However, a deeper analysis of the 4-hour chart shows this lateral trend of shoulder formation in an inverted head and shoulder reversal pattern. Theoretically, the formation displays three troughs, consisting of a middle head enveloped by the two shallow dips before a major breakout.
Currently, the Ripple cryptocurrency trades at $2.19, just 3% short of surpassing the neckline around $2.3. The potential breakout will signal the initial change in market sentiment and drive a 31% surge to hit $3.
Alternatively, if price fails to surpass overhead resistance, the market uncertainty could renew sellers influence on this asset for another downswing.
Also Read: Ethereum Drops Below $1,800: Is a Retest of $1,300 Now Inevitable?
