Coinbase has officially launched futures contracts for the XRP token on its U.S. derivatives exchange, the company announced on April 21 via a post on X. 

The new offering provides traders with a regulated and capital-efficient way to gain exposure to XRP—one of the most liquid digital assets in the crypto market.

The XRP futures contracts are overseen by the U.S. Commodity Futures Trading Commission (CFTC), adding another layer of regulatory compliance to Coinbase’s growing suite of derivatives products. According to the company, the contracts are available in two formats: standard contracts representing 10,000 XRP and retail-focused "nano" contracts representing 500 XRP each, worth roughly $1,000 as of April 21.

These products follow Coinbase’s February launch of Solana (SOL) and Hedera (HBAR) futures, marking XRP as the latest addition to its expanding U.S. crypto derivatives portfolio.

Growing Demand for Crypto Derivatives

The launch comes amid a surge in demand for crypto futures from both retail and institutional investors. Since early 2024, major U.S. platforms—including Coinbase, Robinhood, and the Chicago Mercantile Exchange (CME)—have broadened their crypto derivatives offerings to cater to market appetite.

Futures contracts, which are standardized agreements to buy or sell an asset at a future date, are popular among traders for hedging and speculative purposes. They also allow for leveraged exposure to digital assets, making them a strategic tool in volatile markets.

Coinbase currently offers derivatives tied to approximately 92 assets on its international platform and around two dozen in the U.S., including products linked to memecoins like Dogecoin, and traditional commodities such as oil and gold.

A Strategic Move Amid Soaring Trading Volumes

The XRP futures debut also aligns with Coinbase’s broader strategic push into the derivatives space. In December 2024, the exchange reported a staggering 10,950% increase in derivatives trading volume for the year. Reports suggest Coinbase is in talks to acquire Deribit, a leading crypto options exchange, to further solidify its presence in the derivatives market.

Coinbase initially launched its U.S. derivatives exchange in 2022, offering "nano" futures contracts designed for retail users and expanding access to crypto futures across the country.

XRP’s Resurgence

XRP, the native token of the XRP Ledger, is one of the longest-standing blockchain assets. Designed primarily for payments and decentralized finance (DeFi) use cases, XRP has gained renewed momentum in 2025. As of April 21, its market capitalization stands at approximately $120 billion, according to CoinMarketCap.

The launch of XRP futures also follows a key regulatory victory. In March, the U.S. Securities and Exchange Commission (SEC) dropped its multi-year lawsuit against Ripple, the developer of the XRP Ledger, over alleged securities violations—removing a major overhang for the asset.

With regulated futures now available, XRP is poised to play a larger role in the evolving landscape of institutional and retail crypto trading in the United States.