Coinbase Launches CFTC-Regulated XRP Futures for US Traders

Home

CFTC

By José Oramas April 22, 2025 In CFTC, Coinbase, XRP

NY, USA - FEBRUARY 29, 2020: Homepage of coinbase website on the display of PC, url - coinbase.com. — Source:AdobeStock

Coinbase launched CFTC-regulated XRP futures on April 21, offering both standard and nano contracts for US traders to gain leveraged exposure to XRP.
XRP open interest rose 3% to US$3.18B, signaling renewed capital inflows post-SEC case dismissal, potentially setting the stage for increased institutional interest.

Coinbase has officially launched XRP futures on its US derivatives exchange, giving traders a CFTC-approved way to go long or short on one of crypto’s oldest tokens.

According to a regulatory filing, the contracts went live on April 21, with the company describing it as a “capital-efficient” gateway into one of the most liquid assets in the market:

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

XRP has not reacted well to the news, currently trading at US$2.08 (AU$3.24), as per data from CoinGecko. This represents a change of 0.2% in the last hour and from yesterday. On the weekly chart, it’s down 2.6%

This is particularly painful if we consider most of the crypto market has recorded positive gains today, with Bitcoin surging past US$88K (AU$137K) and most altcoins in the green as well. The Fear and Greed Index climbed to 39, rebounding from the “extreme fear” levels triggered earlier this month by Trump’s tariff threats, a move that’s now paused for 90 days.

XRP Derivatives data shows a 3% jump in the token’s open interest, now sitting at US$3.18B (AU$4.99B). That means new capital is stepping in, either to speculate or hedge. Add technical indicators leaning bullish and a risk-on tilt across the crypto board, and there’s enough juice here to keep bulls interested.

XRP Derivatives Data. Source: CoinGlass.

The timing of the XRP launch isn’t random either. In April, the Securities and Exchange Commission (SEC) dropped its long-running case against Ripple Labs, as announced by CEO Brad Garlinghouse.

So, after years of sparring over whether the token was an unregistered security, it looks like that regulatory cloud is gone (at least for now), which probably means XRP could become more of a darling for institutions, but time will tell.