Coinbase, the most popular American crypto exchange, is getting ready to launch Ripple (XRP) Derivatives on their exchange, latest filing to the Commodity Futures Trading Commission (CFTC) shows.
On one hand, Coinbase is not exactly breaking new ground by launching a leveraged smart contract on Ripple coinโs (XRP) price, as all major competitors like Binance, Bybit, KuCoin & Crypto.Com have launched XRP Futures years ago.
However, this brings Ripple (XRP) to a new audience of Derivatives traders, looking to capitalize on XRP price swings on Americaโs largest crypto platform. Set to go live on April 21, 2025, the filling is awaiting approval from the CFTC.
Sponsored
The move to list XRP coin on Futures comes amid a positive regulatory shift from the CTFC, distancing themselves from the decisions of Gary Genslerโs led-SEC. With the positive headwinds of the 6-year long Ripple vs. SEC case over allegedly selling unregistered securities, XRP Ledger has restored institutional confidence.
XRP Whales Stay In The Sidelines Amid Market Chaos
While the popular altcoinโs price has formed a bullish pennant pattern, XRP price continues to flirt with the $2 major support territory. A daily close below this range could signal further setbacks for Ripple coin (XRP), but claiming the area could take XRP price to $3.29, according to technical analysis by crypto analyst Ether Wizz.
In contrast, largest XRP holders, popularly known as crypto whales, have remained silent amid Fridayโs spooky market chaos. This is portrayed by the Chaikin Money Flow (CMF) index being at status quo, hinting at whales holding XRP without much enthusiasm to buy the dip just yet.
As of press time, the #4 crypto by market cap Ripple (XRP) is priced at $2.03, dipping by 1.4% over the past 60 minutes, according to CoinGecko. As Bitcoin (BTC) is retesting $81,000 key support lines again, XRP whales are hoping to cling on to the $2 support area for the cross-border altcoin before the bullish pennant comes into play.
On The Flipside
- Some key smart contract details are missing in the application, such as the leverage limit on the dollar-margined Perpetual XRP contract.
- Coinbase’s (COIN) publicly traded stock plummeted by 6.66% on Friday, pushing the stock below $170 for the first time since October, 2024.
Why This Matters
Clearly-regulated crypto products in traditional markets have become a reality after recent legal wins in Rippleโs case, as well SEC dropping the Coinbase federal lawsuit in February, 2025.
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