financetom
Cryptocurrency
financetom
/
Cryptocurrency
/
What’s Behind Ripple’s (XRP) 5% Price Surge in Minutes?
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
What’s Behind Ripple’s (XRP) 5% Price Surge in Minutes?
Jan 22, 2025 1:20 PM

TL:DR;

Cryptocurrency prices tend to react positively to favorable news and developments coming from big names, especially if they are outside the industry. XRPs case from the past hour or so was another confirmation of this narrative, as the asset jumped by 5% in the timeframe.

XRPUSD. Source: TradingView The news in question came from one of the most prominent US-based derivatives marketplaces, the Chicago Mercantile Exchange. Reports from SynopticCom indicated that the Illinois-based global giant had added two of the top 10 cryptocurrencies by market cap XRP and SOL to its 2025 agenda.

Moreover, the page reads that futures trading for both assets will begin on February 10 if the products receive the necessary regulatory green light.

@SynopticCom: CME just added XRP and SOL futures page to their staging subdomain. Page says XRP and SOL futures are going live on Feb 10 pending regulatory review. Looks like they are preparing for the official announcement. Brace for paradise.

As always, posted this first on… pic.twitter.com/Am6fzLyApd

Although the CME Groups team is yet to make this announcement public, the report had an immediate impact on the prices of the underlying assets.

XRP, the third-largest cryptocurrency by market cap, had declined to $3.13 ahead of the news going live but jumped by about 5% within minutes to just over $3.28. It has retraced since then slightly, but its still 10% up in the past week and close to the 2018 all-time high of $3.4.

SOL, which has been on a roll since the Trump meme coin mania that started last Friday, went from under $255 to $270 within the same timeframe. Solanas native token charted an all-time high during the weekend at over $290.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
​​​​​FTSE 100 Drops Back from Eight
​​​​​FTSE 100 Drops Back from Eight
Mar 15, 2024
FTSE 100, Dow Jones, Nasdaq 100 Daily Price and Charts ​​​FTSE 100 retreats from a ten-month high ​Wednesday saw the price reach its highest level in ten months, but a reversal on Thursday might suggest that more declines are in store, at least towards the 50-day simple moving average. ​Below this lies 7600, where buying pressure appeared in the second...
Bitcoin Price Prediction: What’s the Next Target and is a Liquidity Crisis Coming?
Bitcoin Price Prediction: What’s the Next Target and is a Liquidity Crisis Coming?
Mar 15, 2024
The price of Bitcoin (BTC) has reached new all-time highs much faster than analysts had expected. A substantial upswing kicked off a few weeks after the approval of the Bitcoin Spot ETF. BTC started the week with an intense burst of volatility, as it topped $73K, tumbled to $69K, and then climbed its way back above $70K — all in...
Shiba Inu (SHIB) Explodes 13% Overnight but Rival Meme Coin Outperforms
Shiba Inu (SHIB) Explodes 13% Overnight but Rival Meme Coin Outperforms
Mar 18, 2024
Meme coins are back at it with significant gains throughout the past 24 hours. The market is recovering, in general, but some meme coins are undoubtedly performing better than the rest. Shiba Inu (SHIB) is up a whopping 13% over the past 24 hours, trading at slightly below $0.0003. The cryptocurrency remains down some 10% on the weekly chart, outlining...
US Dollar Closes in on Resistance, GBP/USD Testing Support, Interest Rate Decisions Near
US Dollar Closes in on Resistance, GBP/USD Testing Support, Interest Rate Decisions Near
Mar 15, 2024
US Dollar Price, Analysis, and Charts Major central bank policy decisions next week.US dollar index nears a cluster of resistance points.British Pound edging lower ahead of UK inflation report. Recommended by Nick Cawley Building Confidence in Trading The latest US PPI report showed that wholesale inflation remains sticky, denting the recent disinflation story. US y/y inflation rose 1.6% in February,...
Copyright 2023-2025 - www.financetom.com All Rights Reserved