XRP has reached a major milestone on the derivatives market, with over $1.6 billion in total notional volume traded on the Chicago Mercantile Exchange (CME). This includes both CME-traded XRP and Micro XRP futures. Interest from institutional and retail traders has grown steadily.
Record-Breaking Trading Day Boosts Momentum
On July 11, CME reported a new record in daily trading activity for its XRP futures suite. The platform recorded $235 million in notional volume traded in just 24 hours. That single day saw over 9,100 contracts change hands, representing the equivalent of more than 82 million XRP.
Micro XRP contracts also hit a new volume high, showing rising demand for smaller, more accessible futures positions. CME initially launched XRP futures in two sizes Micro XRP (2,500 XRP per contract) and Standard XRP (50,000 XRP per contract).
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Both are cash-settled and benchmarked against the SME CF XRP-Dollar Reference Rate. These offerings have expanded XRP exposure to a broader set of market participants, including hedge funds, proprietary trading firms, and individual speculators seeking regulated options.
ProShares ETF Launch Adds New Institutional Avenue
Meanwhile, the upcoming ProShares XRP Futures ETF, set to launch on July 18, promises to expand institutional access even further. Analysts believe the ETF could attract capital from traditionally conservative portfolios, including pensions and university endowments, especially if regulatory clarity around XRP improves.
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At the time of writing, XRP trades at $2.91, reflecting a 3.4% decline over the last 24 hours. However, the token has still surged 27% over the past week, reaching a peak of $3.03 during a six-day rally. Market watchers suggest that if momentum continues especially with the ETF launch and institutional inflows XRP could experience another upward breakout.
The vigorous futures activity and anticipation of the ProShares ETF signal growing confidence in XRP as a legitimate institutional asset. If regulatory conditions remain favourable, XRP may continue to benefit from increasing capital allocation and market participation.
