New CME Group Result Shows XRP Army’s Strength Is Truly Global

The recent debut of XRP futures on CME Group has unveiled an impressive global footprint for the cryptocurrency, emphasizing that XRP’s reach extends far beyond U.S. borders. Just a week into trading, the CME’s regulated XRP futures offered in both standard (50,000 XRP) and micro (2,500 XRP) contract sizes have already made waves in the derivatives space. According to a CME spokesperson, the futures amassed a notable trading volume of 4,032 contracts, valued at around $86.6 million over the first six trading days. But what’s especially striking? Nearly half (46%) of this volume was clocked outside of U.S. trading hours, highlighting the sheer breadth of global participation. This isn’t just a local market, it’s a worldwide phenomenon. A Payments Powerhouse with International Appeal XRP has long been recognized as a cross-border payment solution, crafted to deliver lightning-fast, low-cost international transfers. Ripple, the fintech firm behind XRP, has harnessed the XRP Ledger (XRPL) to bridge global financial networks, allowing institutions to move funds across borders with unprecedented efficiency. Given this foundation, it’s no surprise that the CME’s XRP futures have attracted significant international interest. The trading figures reveal that nearly half of the activity originates from participants outside the United States, underscoring XRP’s reputation as a truly global asset. Why the CME XRP Futures Matter The CME’s XRP futures contracts are cash-settled instruments tied to the SME CF XRP-Dollar Reference Rate, which tracks XRP’s price daily at 4:00 p.m. London time. These contracts allow traders to gain price exposure to XRP without the need to directly hold or transfer the underlying tokens. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 For both institutional and retail players, this offers a way to hedge risks or speculate on XRP’s movements in a regulated environment, further boosting confidence in XRP’s global utility. The Global XRP Army: A Force to Watch The early trading data from CME sends a clear message: the XRP Army, as the community is fondly called, is not just a U.S.-centric force; it’s a global network of enthusiasts, traders, and institutions fueling XRP’s market momentum. With nearly half the volume driven by non-U.S. participants and robust activity outside American trading hours, XRP proves it holds appeal across diverse time zones, economies, and financial markets. The launch of XRP futures on CME Group has illuminated the cryptocurrency’s broad international reach, reflecting the XRP Army’s strength on the global stage. As the derivatives market expands and more participants worldwide engage with XRP, it’s clear that Ripple’s payments-focused vision is resonating not just in theory but in real-time trading action across the globe. The world is watching and trading XRP like never before. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post New CME Group Result Shows XRP Army’s Strength Is Truly Global appeared first on Times Tabloid .

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