The Chicago Mercantile Exchange (CME Group), the world’s largest derivatives marketplace, is preparing to launch XRP futures and Micro XRP futures contracts on Monday, May 19.
According to an official CME notice, the contracts will be available for trading on CME Globex and CME ClearPort, with early access for after-hours participants starting Sunday evening, May 18.
Each standard XRP futures contract will represent 50,000 XRP, while the Micro XRP contract will represent 2,500 XRP, according to Crypto Briefing. Both products will be cash-settled based on the CME CF XRP-Dollar Reference Rate. Fees will vary depending on the participant type and trading venue.
CME's expanding crypto lineup and market performance
This launch marks CME’s first entry into XRP-based derivatives following the company’s confirmation in April of its intention to list the contracts, pending regulatory approval. Leaks dating back to January suggested the addition of XRP, which has now been officially confirmed amid growing demand for regulated crypto trading instruments.
XRP joins CME’s expanding suite of crypto futures, which already includes Bitcoin, Ethereum, and, most recently, Solana — with Solana futures launched in March. In the first quarter of 2025, CME’s crypto derivatives volume surged 141% year-over-year, reaching 198,000 contracts traded daily — equivalent to $11.3 billion in notional value. Open interest also rose 83% to 251,000 contracts worth $21.8 billion.
Ripple’s legal battle and XRP market status
The product rollout coincides with Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). On May 8, both parties submitted a motion to reduce Ripple’s civil penalty from $125 million to $50 million. However, this week, U.S. District Judge Analisa Torres rejected the motion, citing procedural violations under Rule 60.
Ripple’s Chief Legal Officer Stuart Alderoty stated that the ruling does not reverse the company’s prior legal victories, including the court’s determination that XRP is not a security. Despite the setback, both Ripple and the SEC expressed intentions to revisit settlement negotiations.
As of press time, XRP is trading at $2.37 with a market capitalization of $138.9 billion, making it the fourth-largest cryptocurrency globally.
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