XRP Holders Urged to Mark Their Calendar for This Date

CME launched pricing indices for the Ripple-linked token last July, which was a significant sign of XRPs growing institutional adoption. Back then, Ripple CEO Brad Garlinghouse clarified that the launch of the benchmark reference rate was the first step toward institutional crypto products.

The launch of XRP futures is considered to be a crucial step before the potential approval of spot-based ETFs tracking the price of the cryptocurrency later this year.

As of now, there are more than a dozen pending applications from such major players as Franklin Templeton and Bitwise.

It remains to be seen how XRP will react to the launch of CME futures. The token is currently trading at $2.56, according to CoinGecko data.

The price of Bitcoin famously peaked in 2018 shortly after the launch of CME‘s Bitcoin futures. This, of course, does not necessarily mean that XRP is going to suffer the same fate, but there are some concerns about the potential impact of the token on the cryptocurrency’s price action.