Will Ripple (XRP) Become the Next Crypto Futures Market?
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Will Ripple (XRP) Become the Next Crypto Futures Market?

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When Bitcoin Futures contract was first introduced during the close of 2017, it immediately made headlines. However, unlike Bitcoin futures contracts, which have attracted thousands of traders after the release, XRP futures contracts did not enjoy the same fate. Ripple futures contracts, which have been active for almost 18 months now, hardly made any impact on the market. In fact, if you look at the prices, it has been on a downward trend for the most part of 2018.

The first XRP derivatives were introduced by Crypto Facilities, a London based startup, in October 2016. Although the CEO of the company, Timo Schlaefer, has been silent on the matter, he anticipates that there will be widespread adoption of XRP futures in the coming months. “We’re in the process of working with some of the large market makers to draw that further”, Schlaefer affirmed.

With Ripple announcing a partnership with Crypto Facilities, Bitcoin was lagging far behind when it comes to getting its first CFTC regulated Bitcoin derivatives. By the time Bitcoin futures contracts were adopted by the Chicago based commodities companies CBOE and CME Group, Crypto Facilities’ XRP futures contracts were already trading $14.2 million in volume a month. When Cboe’s Bitcoin futures contract expired in January, the Crypto Facilities’ XRP futures had crossed $24.6 million.

Apparently, apart from a few internal investors, not many people knew about the Company’s XRP trading. But it has come a long way from its dark days; “The liquidity has been growing quite a lot”, reported Schlaefer.

Price Movements of Ripple (XRP) Futures

Schlaefer refused to comment on the biggies the company is working with, but his report to CoinDesk offers a crisp insight into the market shift. When closely observed, the data mirrors XRP’s price movements to a great extent. To begin with, the volumes of XRP futures, which have been introduced in October 2016, were on the downtrend until March 2017. However, the XRP futures volume increased exponentially in the following months. During this time, the value of XRP also hiked from $0.03 in April to $0.34 in May. A similar case was observed in January as well when the trading volume touched $24.6 million.

XRP futures, which have been concealed from media’s attention, for the most part, the last year, are indicating positive movements within the market. If you analyze the market trends, it is evident that the trading volume has gone up substantially after the release of Bitcoin futures. With XRP making its way into the mainstream market, it’s expected that the trading volumes will climb higher.

LedgerX and Ripple (XRP) Futures

The CEO of LedgerX, the CFTC-regulated Bitcoin derivatives provider, revealed his company’s plan of exploring XRP futures. It launched its first regulated Bitcoin derivatives last year, and so far traded $100 million in volume.  Paul Chou, the CEO, however, pointed out the limitations that can slow down its appropriation. He said, “Physical settlement avoids those issues because you are not beholden to some abstract price that might or might not be manipulated. You either want the crypto, or you don’t.”

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of David Pape via Flickr

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