The U.S.-based crypto exchange Coinbase has filed with the U.S. Commodity Futures Trading Commission (CFTC) to launch XRP futures contracts.

“We are excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify XRP futures. This will provide access to one of the most liquid digital assets in a regulated and capital-efficient manner,” the company stated.

Coinbase expects XRP futures contracts to go live on April 21.

XRP Futures: Details and Rules

According to the filing, XRP futures contracts will be monthly cash-settled and margined, trading under the symbol XRL.

• Each contract will represent 10,000 XRP and will be settled in U.S. dollars based on XRP’s price.

• If XRP’s price moves more than 10% within an hour, trading will be temporarily halted.

• Contracts will be available for the current month and two months ahead.

Coinbase emphasized that it has consulted with Futures Commission Merchants (FCMs) and market participants, who support the launch of XRP futures contracts.

Coinbase Is Not the First in the U.S.

Coinbase is not the first company to introduce XRP futures contracts in the U.S. In March, Chicago-based crypto exchange Bitnomial announced the launch of the first CFTC-approved XRP futures contracts in the country.

XRP futures trading is already available on major centralized exchanges such as Binance, OKX, Bybit, and BitMEX.

XRP Funding Rates Remain Negative

At the end of March, XRP derivatives funding rates turned negative.

Funding rates are periodic payments between traders in perpetual futures markets, helping keep futures prices aligned with spot prices.

• Positive funding rates indicate that long (buy) traders pay short (sell) traders.

• Negative funding rates mean that short traders are willing to pay extra fees to maintain their positions, signaling strong bearish sentiment.

As of April 4, XRP funding rates remain negative on major derivatives exchanges.

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