XRPcoin (XRP) CME futures volume reached $5.42 billion, is this the signal of the next XRPbull run?

Gate News, according to Cryptonews, XRP and Micro XRP futures from the Chicago Mercantile Exchange Group (CME Group) have generated significant market interest, with a total volume of $542 million since its launch on May 19th.

According to the report of the Chicago Mercantile Exchange on June 24th, a wide and diverse range of institutions participate in the contract, including ETF issuers, institutional trading platforms, and individual traders. On the day the contract was launched, the volume reached $19.3 million, with participation from 15 companies and 4 retail trading platforms.

It is worth noting that 45% of the volume comes from outside North America, reflecting strong global demand. The open interest has increased to $70.50 million, indicating that interest in these new derivatives continues after the initial speculation.

Institutional investors find these contracts particularly attractive as they offer investment opportunities for XRP without the need for wallet custody or on-chain settlement, making it easy to track price movements. The CME CF XRP-USD Reference Rate provides a USD benchmark price from major cryptocurrency exchanges for cash-settled contracts.

In addition to futures, the XRP ecosystem is also steadily expanding in 2025. Ripple acquired the major brokerage firm Hidden Road for $1.25 billion, aiming to expand XRP's institutional financial use cases.

Ripple also introduced RLUSD, a stablecoin pegged to the US dollar, which runs natively on the XRP ledger. This development is expected to boost the network activity of XRP and make XRP a more attractive liquidity bridge between traditional and digital markets.

From a technical perspective, as of the time of writing, the trading price of XRP is $2.185. The price is attempting to break through the 20-day simple moving average of $2.18, indicating a bullish breakout may occur after a strong rebound near the recent low of $2.03. The Bollinger Bands show tightening volatility, which may indicate larger fluctuations.

The relative strength index is 49, indicating that if the trading volume rebounds, there may be upward momentum. If XRP decisively breaks through $2.20 against the background of increasing open interest and derivative volume, the price may rise to $2.30 or even higher. If this rebound is not sustainable, XRP may retest the lower support level near $2.03.

(Source: Trading View)