🚨 XRP Futures Are Coming! 🚨

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Oh joy, oh rapture! The crypto world is about to get a whole lot more exciting, folks! 🤯 Coinbase Institutional has filed with the US Commodity Futures Trading Commission (CFTC) to launch futures contracts for Ripple‘s XRP token. Because, you know, the world wasn’t already crazy enough.

According to Coinbase Institutional, they’re “excited” to announce that they’ve filed with the CFTC to self-certify XRP futures. Because, you know, “excited” is the perfect word to describe a company that’s about to unleash a whole new level of financial chaos upon the world. 🤪

Now, let’s get down to business. The XRP (XRP) futures contract will be a monthly cash-settled and margined contract trading under the symbol XRL. It’ll track XRP’s price and be settled in US dollars. Each contract represents 10,000 XRP, which is currently worth about $20,000 at $2 per token. Because, you know, who needs a million dollars when you can have 10,000 XRP? 🤑

Contracts can be traded for the current month and two months ahead, and trading will be paused as a safety measure if spot XRP prices move more than 10% in an hour. Because, you know, we can’t have people getting too excited and losing all their money. 😂

Now, Coinbase isn’t the first to launch XRP futures in the United States. In March, Chicago-based crypto exchange Bitnomial announced the launch of the “first-ever CFTC-regulated XRP futures in the US.” But hey, who needs to be first when you can be second? 🤷‍♂️

XRP futures trading is available on many of the world’s leading centralized crypto exchanges, such as Binance, OKX, Bybit and BitMEX. Because, you know, variety is the spice of life, and also a great way to lose all your money. 😂

Funding rates remain negative

But wait, there’s more! In late March, CryptoMoon reported that XRP derivatives’ funding rates had flipped negative as investor sentiment turned bearish. Because, you know, when the going gets tough, the tough get going… into the red. 🤑

Funding rates are periodic payments between traders in perpetual futures markets that help keep the futures price aligned with the spot price. Positive funding rates mean that long traders (buyers) pay short traders, while negative funding rates mean short traders (sellers) pay long traders. Because, you know, it’s all just a big game of musical chairs, and someone’s gotta pay the piper. 🎶

When funding rates go negative, it means short traders are willing to pay a premium to maintain their positions, indicating strong conviction from bearish derivatives traders. Because, you know, when you’re bearish, you’re always right… until you’re not. 😂

XRP funding rates remained negative on major derivatives exchanges as of April 4, according to CoinGlass. Because, you know, someone’s gotta keep the party going. 🎉

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2025-04-04 09:16