In a development that could upset the cryptocurrency market, Coinbase has applied to the United States Future Trading Commission (CFTC) to introduce term contracts on XRP. Scheduled to be launched on April 21, 2025, this product could offer investors a new way of speculating on one of the most liquid digital assets without having to directly hold the token.
An innovative and regulated derivative product signed Coinbase
Coinbase, the largest operator in Ethereum nodes, stressed that Its XRP term contracts would be adjusted in cashon margin, and negotiated under the XRL symbol. Each contract will represent 10,000 XRP, or approximately $ 20,000 At the current price of $ 2 per token. These contracts will be available for the current month as well as for the following two months.
In order to ensure a certain security on the market, The exchanges will be suspended if the price of the XRP fluctuates by more than 10 % in an hour. This mechanism aims to protect investors in the event of extreme volatility.
This launch is part of the coinbase strategy aimed at Diversify its derivative products. The platform had already expanded its offer by offering term contracts on other crypto-active such as Solana (Sol) and Hedera (Hbar).
The initiative to add XRP to its range of derivatives should Allow investors to take advantage of the evolution of the value of XRP while remaining in a regulated framework.
A crypto market marked by signs of pessimism
Although the Coinbase initiative is praised as an important step towards greater regulation of derivative products on cryptocurrencies, the initiative comes at a time when the feeling of the market remains largely negative. Indeed, The financing rates of derivative contracts on XRP are currently negativea clear sign of pessimism among traders.
When these rates are negative, this means that traders for sale (shorts) are ready to pay a bonus to maintain their positions, which reflects a strong conviction in the future drop in the price of XRP.
This market context, dominated by lowering prospects, could make entry into this product more risky for certain investors, despite the recognized liquidity of XRP. However, the fact that Coinbase now offers term contracts on XRP under a regulated framework could offer greater transparency and reduce the associated risks for institutional investors.
The Bitnomial Previous and the Impact of Regulation
This is not the first time that XRP term contracts have appeared on the American market. In March 2025, The Bitnomial Stock Exchange, based in Chicago, was the first to obtain CFTC approval To offer XRP's term contracts. The introduction of a similar product by Coinbase, one of the largest cryptocurrency platforms, demonstrates an increasing trend towards the regulation of crypto derivatives in the United States.
The impact of XRP regulation could be felt beyond derivative products. Indeed, resolution of Ripple's legal problems with the SEC could open the way to additional financial products, in particular negotiated funds (ETF) based on XRP.
Several asset managers, including major companies such as Blackrock and Fidelity, are currently considering the Launch of ETF XRP in cash. This evolution could thus mark a turning point for the XRP, in particular with the possible lifting of the restrictions imposed by the SEC.
This launch of XRP term contracts by Coinbase represents a major step for the integration of cryptocurrencies into traditional financial markets. While the product is long overdue, the regulation could open doors to new opportunities. Coinbase could well regain control over 24 hours a day at the financial markets, like its previous initiatives on Bitcoin and Ethereum.
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