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28.04.2025 04:14 PM
XRP futures to launch on May 19

Over the weekend, Bitcoin experienced a brief dip but soon returned to the $94,000 level. Ether also faced some pressure, but managed to hold its ground.

Surprisingly, XRP saw only a modest increase after the news that CME Group—the world's leading derivatives exchange—announced plans to launch XRP futures. Market participants will be able to trade both micro XRP contracts and larger contracts, each comprising 50,000 XRP.

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"As innovation in the digital asset landscape continues to evolve, market participants continue to look to regulated derivatives products to manage risks across a wider range of tokens," Giovanni Vicioso, global head of cryptocurrency products at CME Group, said.

"Interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption for the network grows, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients' investment and hedging strategies."

However, some less positive news followed. Ripple President Monica Long stated in an interview that Ripple does not plan to conduct an IPO in 2025. The company has sufficient cash reserves and bought back shares this year at a valuation of $11.3 billion, down from the $15 billion valuation in 2022. This announcement certainly surprised many market observers, especially given the rising interest in cryptocurrency companies and their potential public valuations. However, Long emphasized that Ripple is in a financially strong position, allowing the company to determine its own growth strategy without the immediate need for an IPO.

It is worth noting that the company's buyback at a valuation of $11.3 billion, while below the 2022 level, still represents a substantial sum, demonstrating Ripple's confidence in its long-term prospects. This move also helps the company strengthen its internal ownership structure and increase flexibility in strategic decision-making.

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Technical outlook for Bitcoin:

Currently, buyers are targeting a return to the $94,400 level, which would open the way to $95,600, with $97,100 within reach after that. The ultimate upside target stands at the $99,000 high—surpassing it would signal an end to the bear market. If Bitcoin falls, buying interest is expected around $93,300. A drop below this level could quickly send BTC down to $91,600, with the farthest support at $90,500.

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Technical outlook for Ethereum:

A clear close above $1,805 for ETH opens the way to $1,833. The farthest upside target is the $1,868 high. Breaking through this would indicate a return to a bull market. If Ether declines, buyers are likely to step in around $1,779. A fall below this level could quickly push ETH down to $1,750, with the final support at $1,722.

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