CME Dials Back on XRP, SOL Futures Listing, Here’s Why
The Chicago Mercantile Exchange (CME) Group denied plans to launch futures contracts for Ripple’s XRP or Solana (SOL) after a beta page mistakenly went public.
However, the CME Group has officially confirmed that the test page appeared erroneously. Speaking to Fox Business, a CME spokesperson said:
“The beta version of the website, which is often used for mock-up drafts, was made public in error. No official decisions have yet been made about launching futures contracts for either token.”
A screenshot of a beta page showcasing XRP and Solana (SOL) futures contracts surfaced on X earlier Wednesday. This further fueled the speculation that the exchange could list these investment products. The news triggered a brief rally for both tokens, with prices rising up to 3% before retracing some of their gains.
Bloomberg ETF analysts Eric Balchunas and James Seyffart confirmed the existence of the page before it was taken down. “Honestly makes sense and largely to be expected if true IMO,” wrote Seyyfart.
Assuming "beta.cmegroup" is actually a beta/test version of the actual CMEGroup website — looks like CME is expecting to launch SOL & XRP futures on Feb 10. But this isn't available on the actual website yet.
Ripple’s native cryptocurrency XRP is heading south today dropping over 2.5% but holding above the crucial support of $3.0. Today’s selling pressure comes amid a broader crypto market selloff. Despite the price dip, XRP Futures Open Interest increased by 1.3% to $6.9 billion, reflecting strong investor confidence.
At the same time, market expert Ali Martinez has added to the speculation with a bold forecast, recently suggesting a potential rally for Ripple’s native crypto to $15.
Optimism around the XRP price rally to new all-time highs continues to persist. Furthermore, several market analysts believe that the Ripple vs SEC settlement will finally see the light of the day this year. As a result, there’s growing hope of the approval of a spot XRP ETF by the end of 2025.
Solana (SOL) Price Action Today
The Solana (SOL) price is also down 4.4% today after a strong rally over the past week. With fresh filings for the spot Solana ETFs, optimism still persists within the market. The Relative Strength Index (RSI) stands at 62.26 on the 24-hour chart, indicating that while bullish momentum persists, it is cooling off from overbought conditions.
If buying pressure picks up, Solana’s price could retest the $260 level, with a breakout potentially pushing prices toward $280 and $294, surpassing the recent all-time high (ATH).
Source: TradingView
Additionally, with speculation around a SOL ETF, the top altcoin could make another attempt to break through the $300 resistance level. However, if bearish sentiment takes hold, Solana’s price could drop below the $230 support level.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.