In a move that can only be described as “bold” and possibly “questionable,” Coinbase Institutional has decided to file with the U.S. Commodity Futures Trading Commission (CFTC) to self-certify XRP futures through its subsidiary, Coinbase Derivatives. Yes, you read that right—futures on XRP, because apparently, there wasn’t enough volatility in the world already. 🎢
The futures contracts, which are set to launch on April 21, 2025, will offer both institutional and retail investors a way to bet on XRP without actually having to, you know, own any. It’s a regulated, capital-efficient way to dive into the world of digital assets. What could possibly go wrong? 🤷♂️
“We’re excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify $XRP futures – bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets.”
— Coinbase Institutional 🛡️ (@CoinbaseInsto) April 3, 2025
Apparently, Coinbase has a noble goal: to increase the depth of the XRP market. That sounds like jargon, but what it really means is: “We want more people to trade XRP so we can make money off of it.” In theory, this means they can roll out XRP futures without waiting for the CFTC’s explicit approval, as long as they follow the rules. 🎯
Now, you might be wondering, “What are XRP futures good for?” Well, they’re great for hedging, speculating, and making the whole XRP market just a bit more liquid. Because, you know, it’s already liquid enough to be slippery. This move comes after Kraken launched Ripple USD (RLUSD), which was previously a niche offering on Bitstamp. More trading of RLUSD means more XRP trading, which—surprise—brings in more institutional investors. 🏦💰
On the technical side of things, XRP has been flirting with the .382 Fibonacci retracement level. Fancy words for “it’s trying not to crash.” At the moment, $2.04 is considered a key support level, according to CoinMarketCap data. If XRP can stay above this mark and RSI signals stay positive, well, maybe we’ll see a bounce. But if it dips below… well, let’s just say there will be some sad faces. 😢
However, not all has been smooth sailing. Coinbase made a little oopsie by calling the product “Ripple futures,” which, for anyone who has the slightest clue about XRP, is a *major* faux pas. Ripple is the company, XRP is the token, and apparently, some supporters of XRP don’t appreciate such distinctions being ignored. Coinbase quickly changed the name to “XRP futures,” because apparently, admitting you’re wrong is the best way to avoid a full-blown internet riot. 🧯
And just to add a little more spice to this rollercoaster, Bitnomial recently jumped into the XRP futures game, adding a dash of competition to the already fiery market. Because why settle for one chaotic mess when you can have two? 🔥
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2025-04-04 09:25