On the day, Ripple-backed XRP is trading at $2.29, losing 2%. However, CME data shows that XRP futures volumes surged to a new all-time high since the May 19 launch. Following XRP’s rise as the fourth-largest crypto by market cap, enthusiasts are paying closer attention and making market expectations increase. With more trades and open interest as per CME data, the market is watching to see if XRP will surge past $2.35.
XRP CME Futures Volumes Surge to a Record High
According to recent data, CME’s XRP futures trading volume reached a new peak of 189 contracts on May 27. Each contract is worth 50,000 XRP tokens which results in about $22 million changing hands each day. Additionally, traders have bought a record 199 contracts as open interest climbs higher.
CME rolled out XRP futures on May 19 and barely two weeks after, they have become popular. The CME’s XRP futures also surpassed Ethereum futures on the first day of launch. Such a high level of futures trading indicates that XRP is now being considered more widely as a possible trade among big investors.
Additional volume in XRP futures may result in greater volatility and curious investors are paying attention to XRP. In fact, according to TradingView data, XRP is seeing solid trading volumes, with the price remaining between $2.29 and $2.32 for three weeks now.
XRP Price Holds Critical Support, Faces Resistance at $2.35
As per TradingView data, XRP has a strong support zone between $2.29 to $2.32. The past three weeks have shown ongoing interest from buyers in this area. The Awesome Oscillator (AO) histogram is showing a tendency toward a shift in momentum.
Though the AO bars are still negative, they are green which means that bearish power is waning. With increasing interest, XRP might manage to break through the $2.35 barrier, the Point of Control (PoC) when looked at from the volume profiles.
Once XRP breaks above this level, the next important resistance level is $2.47. If price breaks above the descending trendline higher up, then a reversal to a bullish trend may begin. Analysts believe that XRP may break through $2.65 if it keeps gaining traction.
XRP ETF Launch Prospects and Market Outlook
Traders and investors are eyeing an XRP-based exchange-traded fund (ETF). Although nothing official has been set, market participants believe that an XRP ETF might cause demand to rise and push the price up. Some claim that listing an ETF for XRP could help the cryptocurrency reach $10 over the long run.
The data by Polymarket shows that the XRP ETF approval odds by December 2025, have risen to 83%. This indicates that XRP enthusiast are optimistic that the U.S Securities and Exchange Commission could approved the XRP ETF by the end of the year.
Even so, it is important for traders to be cautious as XRP and the crypto sector face regulatory-risks and ongoing volatility risks. For the near future, the performance of XRP will be decided by its ability to keep up within the support zone and overcome a resistance level of $2.35, with the help of strong trading action and more activity among futures.
