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News

Bitnomial Drops Lawsuit, Launches XRP Futures with CFTC Approval

2 mins mins
Key Points:

  • Bitnomial launches XRP futures post-SEC lawsuit withdrawal, CFTC approval.
  • XRP price up 5% post announcement.
  • Future increased institutional involvement in XRP.

bitnomial-drops-lawsuit-launches-xrp-futures-with-cftc-approval
Bitnomial Drops Lawsuit, Launches XRP Futures with CFTC Approval

Bitnomial will launch XRP futures contracts on March 20 after withdrawing its lawsuit against the SEC. The CFTC approved this move, allowing Bitnomial to proceed.

This event marks a pivotal shift for XRP, promoting institutional interest and liquidity, evidenced by a 5% price increase.

Bitnomial Secures CFTC Approval, Ends SEC Dispute

Bitnomial Exchange has announced the withdrawal of its lawsuit against the SEC, focusing on jurisdiction over XRP futures. After securing CFTC approval, Bitnomial is set to launch its XRP futures contracts. Luke Hoersten, Bitnomial CEO, expressed confidence in this development:

“We’re pleased to announce that Bitnomial will be withdrawing our lawsuit against the SEC. This paves the way for us to move forward with launching XRP futures contracts tomorrow, as approved by the CFTC.”

XRP futures will officially be available, marking a new chapter for XRP derivatives in the United States. Regulatory approval signals a notable endorsement of crypto futures trading, potentially enticing more participants. As Bitnomial sets this precedent, regulatory paths could become clearer for others in the market.

XRP’s market reacted positively, with a price increase shortly after the announcement. Brad Garlinghouse, CEO of Ripple, tweeted, emphasizing how regulated futures are a promising step. He stated that this advancement could lead to greater institutional participation, promoting market liquidity.

Ripple’s XRP: Price Surge Following Industry Milestone

Did you know? The launch of Bitcoin futures by CME Group in 2017 parallels this event, as it significantly boosted institutional interest in cryptocurrencies, setting a benchmark for regulatory acceptance in the crypto domain.

XRP is currently trading at $0.72, experiencing a fluctuation between $0.70 and $0.75. Analysts suggest that this trend aligns with earlier market movements, reinforcing historical price patterns established with regulated asset launches.

Experts view this development as a catalyst for increased institutional participation in crypto markets. Regulatory recognition might fuel confidence, encouraging already interested entities to venture deeper into digital assets. These steps potentially pave the way for expanded regulatory frameworks and enhanced clarity in cryptocurrency markets.

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Avatar of John Kojo Kumi

John Kojo Kumi

19 March 2025, 15:59:23 GMT +0000

John Kojo Kumi is a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem. With years of experience in crypto journalism and blockchain research, he provides in-depth coverage of decentralized finance (DeFi), NFTs, and Web3 innovations.

He holds a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi, bringing a multidisciplinary perspective to the evolving digital asset space. As a Crypto News Writer, he tracks and reports on industry trends, while his role as a Registrar at the Commission on Human Rights and Administrative Justice reflects his commitment to governance and transparency.

His expertise spans content strategy, SEO optimization, and technical research, enabling him to craft insightful, data-driven analyses. Passionate about blockchain’s transformative potential, he strives to equip readers with the knowledge to navigate the complexities of digital assets and decentralized technologies.

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