Coinspeaker
CME Dials Back on XRP, SOL Futures Listing, Here’s Why
Chicago Mercantile Exchange (CME) Group has clarified that it has no official plans to launch the futures for XRP
XRP
$3.06
24h volatility:
5.7%
Market cap:
$176.76 B
Vol. 24h:
$7.50 B
or Solana
SOL
$243.2
24h volatility:
5.6%
Market cap:
$118.63 B
Vol. 24h:
$10.41 B
at the moment. As per the earlier leak of the website, the futures for these altcoins were likely to start trading on the CME platform from February 10.
However, the CME Group has officially confirmed that the test page appeared erroneously. Speaking to Fox Business, a CME spokesperson said:
“The beta version of the website, which is often used for mock-up drafts, was made public in error. No official decisions have yet been made about launching futures contracts for either token.”
A screenshot of a beta page showcasing XRP and Solana (SOL) futures contracts surfaced on X earlier Wednesday. This further fueled the speculation that the exchange could list these investment products. The news triggered a brief rally for both tokens, with prices rising up to 3% before retracing some of their gains.
Bloomberg ETF analysts Eric Balchunas and James Seyffart confirmed the existence of the page before it was taken down. “Honestly makes sense and largely to be expected if true IMO,” wrote Seyyfart.
Assuming "beta.cmegroup" is actually a beta/test version of the actual CMEGroup website — looks like CME is expecting to launch SOL & XRP futures on Feb 10. But this isn't available on the actual website yet.
Honestly makes sense and largely to be expected if true IMO https://t.co/lfMGd8X9KE
— James Seyffart (@JSeyff) January 22, 2025
XRP Price Action Today
Ripple’s native cryptocurrency XRP is heading south today dropping over 2.5% but holding above the crucial support of $3.0. Today’s selling pressure comes amid a broader crypto market selloff. Despite the price dip, XRP Futures Open Interest increased by 1.3% to $6.9 billion, reflecting strong investor confidence.
At the same time, market expert Ali Martinez has added to the speculation with a bold forecast, recently suggesting a potential rally for Ripple’s native crypto to $15.
Send it! $XRP = the standard https://t.co/OvXJkQWAyH pic.twitter.com/bqAasvfnwr
— Ali (@ali_charts) January 22, 2025
Optimism around the XRP price rally to new all-time highs continues to persist. Furthermore, several market analysts believe that the Ripple vs SEC settlement will finally see the light of the day this year. As a result, there’s growing hope of the approval of a spot XRP ETF by the end of 2025.
Solana (SOL) Price Action Today
The Solana (SOL) price is also down 4.4% today after a strong rally over the past week. With fresh filings for the spot Solana ETFs, optimism still persists within the market. The Relative Strength Index (RSI) stands at 62.26 on the 24-hour chart, indicating that while bullish momentum persists, it is cooling off from overbought conditions.
If buying pressure picks up, Solana’s price could retest the $260 level, with a breakout potentially pushing prices toward $280 and $294, surpassing the recent all-time high (ATH).
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Source: TradingView
Additionally, with speculation around a SOL ETF, the top altcoin could make another attempt to break through the $300 resistance level. However, if bearish sentiment takes hold, Solana’s price could drop below the $230 support level.
CME Dials Back on XRP, SOL Futures Listing, Here’s Why
