XRP Features Prominently as Coinbase Perpetual Futures Market Data Go Live

XRP is one of the four digital currencies featured on the market data of Coinbase’s perpetual features offering, which recently went live for non-U.S. Advanced customers.

Scott Shapiro, Senior Director for Product Management at Coinbase, signaled the update complementing the launch of perpetual futures trading for customers outside the U.S.

Coinbase International Exchange Perpetual Futures Market data, public and live https://t.co/jh0CHOQdfv pic.twitter.com/YUpJssPjbB

— shapiro.eth 🛡 Scott Shapiro (@scottshapiro) October 19, 2023

The Crypto Basic reported this week that Coinbase had introduced futures trading for XRP and other three other assets to non-U.S. Advanced clients.

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Current XRP Performance Data

According to Coinbase data, the XRP-PERP pool has a 24-hour trading volume of $3,013,528 and a 30-day volume of $50,654,666. Current open interest is pegged at $47,364, the lowest of the four contracts listed by Coinbase.

The other Perpetual Futures Contracts include Bitcoin, Ethereum, and Litecoin. According to the published data, BTC contracts boast the highest volume, with $85.2 million traded. ETH and LTC contracts have recorded $41.5 million and $1.09 million.

In May, Coinbase secured regulatory approval to offer futures contracts to institutional investors outside the U.S. Months later, it received the go-ahead to extend the offering to retail investors. Since the Perpetual Futures Contracts launch, it has recorded a 30-day volume of $3.052 billion, which shows growing momentum.

Bullish Outlook for XRP

Including XRP in the mix demonstrates the growing appeal of the cryptocurrency. With its defined legal status in the U.S., XRP has started getting favored with its inclusion in unique products by top service providers.

This trend aligns with the projection that large institutions can now trade XRP without fear of sanctions. The sustenance of this trend can catalyze a bullish run in the price of XRP shortly.

Currently, XRP is up 7.68%, with its price pegged at $0.5182 and market capitalization at $27.702 billion.