TL:DR;
- Cryptocurrency prices tend to react positively to favorable news and developments from big names, especially if they are from outside the sector.
- The case of XRP over the past hour has been another confirmation of this narrative, as the asset has surged 5% over this period.
The news in question came from one of the most important derivatives markets in the United States, the Chicago Mercantile Exchange. Reports from SynopticCom indicated that the Illinois-based global giant added two of the top 10 cryptocurrencies by market capitalization – XRP and SOL – to its 2025 agenda.
Additionally, the page states that futures trading on both assets will begin on February 10 if the products receive the necessary regulatory green light.
@SynoptiqueCom: CME just added the XRP and SOL futures page to its preparation subdomain. Page says XRP and SOL futures will go live on February 10 pending regulatory review. Looks like they’re gearing up for the official announcement. Get ready for paradise.
As always, I posted this first on… pic.twitter.com/Am6fzLyApd
– Summers (@SummersThings) January 22, 2025
Although the CME Group team has not yet made this announcement public, the report had an immediate impact on the prices of the underlying assets.
XRP, the third-largest cryptocurrency by market capitalization, had fallen to $3.13 before the news broke, but jumped about 5% within minutes to just over $3.28. It has pulled back slightly since then, but is still up 10% over the past week and close to the 2018 all-time high of $3.4.
SOL, which has been on a roll since the Trump coin mania that began last Friday, rose from below $255 to $270 in the same time frame. Solana’s native token hit an all-time high over the weekend at over $290.
The post What’s Behind Ripple’s (XRP) 5% Price Rise in Minutes? appeared first on CryptoPotato.
