Interest in XRP grows as CME Group prepares to launch derivatives based on Ripple token

May 19 could be a momentous day for Ripple holders, as the world's largest derivatives exchange has officially confirmed its plans to add XRP to its suite of digital assets, following the recent launch of similar financial contracts for Solana. 

The rollout of XRP on the CME is a testament to the growing institutional interest in the token. The exchange has been offering crypto indices since July 2023, and the upcoming launch of regulated contracts on Bitnomial is another step towards the legitimization of Ripple products in the US.

Besides attracting more institutional interest, the investment community is hopeful that these new trading instruments may open the door for future XRP ETFs. Firms like Bitwise, Franklin Templeton and others have already submitted applications for such products to be launched.

As the rollout draws nearer, XRP continues to show strong upward movement, trading close to $2.60, Times Tabloid said.