The Chicago Board Options Exchange officially listed the XRP ETF! Ripple's trading volume big pumped by 140%, and the price broke through the $3.10 barrier.

On September 19, Ripple (XRP) temporarily reported at $3.07, breaking the $3.10 mark overnight, setting the highest trading price of the week. Driven by the dual benefits of the Federal Reserve's interest rate cut expectations being realized and Rex Shares officially launching the XRP ETF product, XRP has increased by 5% over the past week. However, the latest trends in derivatives trading indicators suggest that this may just be the beginning of a larger market movement.

The first batch of XRP ETFs in the United States officially listed on CBOE, opening the doors for institutional investment

On Thursday, American asset management firm Rex Osprey announced that the first ETFs issued in the United States will provide exposure to spot Dogecoin and spot XRP, and have officially listed on the Chicago Board Options Exchange (CBOE).

According to the official press release, the first Dogecoin ETF will trade under the DOJE stock ticker, while most of the assets of the XRPR product will be held directly in spot XRP, with the remainder invested in exchange-traded products backed by XRP.

Greg King, the CEO and founder of REX Financial and Osprey Funds, emphasized the strong demand from institutions for ETFs as trading tools for cryptocurrencies:

“Investors see ETFs as trading and investment tools. The digital asset revolution has begun, and being able to provide investment opportunities in some of the most popular digital assets under the protection of the 40 Act ETF framework in the United States is something REX-Osprey takes pride in and has been striving to achieve.”

CBOE also confirmed the listing news of DOJE and XRPR ETFs on its official X account, marking a crucial step for XRP in the institutional investment space.

Derivatives Market Explodes: Trading Volume Soars 140%, Open Interest Increases 6.7%

As the news of the XRP ETF listing sparked global reactions, the price of XRP pumped by 4%, subsequently encountering significant resistance at the $3.10 level. Although XRP's performance has temporarily lagged behind top altcoins like Avalanche, which achieved double-digit pumps after the Federal Reserve cut interest rates, the reaction in the derivatives market suggests that a larger trend may be on the horizon.

Coinglass's real-time data shows that the trading volume of XRP futures contracts has astonishingly increased by 140% in the past 24 hours, surpassing the 10 billion dollar mark as of the time of writing. At the same time, the open contracts tracking the value of new leveraged positions in XRP have also grown by 6.7%, reaching 9 billion dollars.

Two major technical indicators signal potential breakout

These data suggest that there may be a bullish breakout in the future, mainly for two reasons:

1. The increase in open contracts exceeds the spot price: The 6.7% growth in XRP open contracts has surpassed the 4.2% increase in spot price, indicating that new capital is entering the market to support the bullish trend.

2. Trading volume exceeds open contracts: The intraday trading volume of 10 billion USD exceeded the open contracts of 9 billion USD, indicating strong market trading volume, with bullish newcomers absorbing the selling pressure from profit takers.

Success Case of Rex Osprey: Solana ETF Brings 68% Pump

It is worth noting that Rex Osprey's Solana Staking ETF (SSK) has attracted nearly 300 million dollars in inflows in less than three months since its launch on July 2. During this period, the price of Solana has increased by 68% from 148.3 dollars to 248.7 dollars.

This successful precedent provides a reference for the potential impact of the XRP ETF. Analysts point out that if the price of XRP can decisively close above $3.10, it may break through the $4 mark, as the market expects institutional investor ETF funds to continue flowing in.

Fed Rate Cuts and XRP ETF: Has the Perfect Storm Formed?

The Federal Reserve's decision to cut rates by 50 basis points announced on Wednesday provides additional support for risk assets. With this macro positive and the dual catalyst of the XRP ETF listing, the XRP market is at a critical point of potential explosion.

The convenience for institutional investors to enter the XRP market through ETFs has significantly increased, which may lead to sustained capital inflows. At the same time, the strong performance of the derivatives market indicates that traders are actively preparing for a possible pump.

As XRP consolidates around the $3.10 mark, investors are closely watching for a potential breakout. If XRP can hold this key level, the target price of $4 will become the next focus.