Coinbase Seeks CFTC Approval for XRP Futures, Boosting Institutional Interest
1min read Coinbase has taken a significant step forward in its efforts to introduce XRP futures by submitting a request to the U.S. Commodity Futures Trading Commission for self-certification. This move, if approved, would allow coinbase to list XRP futures without requiring direct regulatory permission, thereby attracting institutional investors and increasing the stability of XRP's price. The expected launch date for this initiative is April 21, 2025. This development is anticipated to positively impact XRP’s adoption in the crypto market by providing more accessibility for both retail and institutional traders.
Coinbase's filing for CFTC approval indicates a growing institutional interest in XRP. If approved, this would offer traders more hedging opportunities. The self-certification process allows Coinbase to proceed without direct CFTC approval, provided it adheres to regulatory guidelines. This move is seen as a potential catalyst for increased adoption of XRP, as futures trading is essential for price discovery and risk management, making this a crucial milestone for the token.
In addition to Coinbase's efforts, Ripple’s RLUSD stablecoin has been listed on Kraken, further strengthening its ecosystem. This listing could drive additional utility for XRP in cross-border transactions. If these developments align with market expectations, the XRP price could see an upward trend. The approval of XRP futures could also boost confidence in the token’s legitimacy, as XRP news has remained positive with Coinbase’s move seen as a significant development.
Ask Aime: What is the potential impact of Coinbase's XRP futures self-certification on the XRP market?
According to analysts' forecasts, if bullish momentum builds, XRP could break resistance at $2.10, reach $2.12, and move higher. Conversely, if the trend weakens, it might retest support near $1.96. Traders are closely watching for further XRP news to gauge the token’s next move. The overall sentiment surrounding XRP is positive, with these developments highlighting the growing interest and potential for increased adoption in the crypto market.
