XRP’s price is still under pressure in the wider crypto market, but traders are watching a new development that could boost institutional interest. CME Group will launch 24/7 crypto futures trading on May 29, which could affect XRP and other digital assets.
CME has said it will offer 24/7 access to crypto futures and options to match the always-open crypto markets. Normally, futures markets close on weekends, causing price gaps between Friday and Monday.
Analysts think removing these ‘CME gaps’ could reduce sudden volatility at the start of the week. Some traders also expect longer trading hours to make crypto products more accessible to institutions.
Market watchers noted that XRP responded well when CME first announced the plan earlier this year. After the February announcement, the token rose by almost 6% in two days.
Another key development is that XRP is expected to join the NASDAQ Crypto Index on June 8. This could make it more visible and accessible to institutional investors who follow regulated crypto benchmarks.
Despite these positive signs, XRP still faces a tough market. At the time of writing, it remains in a short-term bearish trend, reflecting weakness across many altcoins.
Still, some traders think that better institutional infrastructure and more regulated trading could help XRP’s market position improve over time if the overall crypto outlook gets better.
CME Launches 24/7 $XRP Futures Trading On May 29 🚨
The expansion of round-the-clock XRP futures trading adds another layer of institutional market access, as traditional finance and crypto infrastructure continue moving closer together. 👀📈
Source: CoinGape#CryptoTrend… pic.twitter.com/hk5rhAPVGU
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