Late in 2017 there was a lot of news coming out about the launching of Bitcoin futures. These futures launched, and helped to drive Bitcoin to all time highs through the end of the year. Of course, the prices have come crashing down since then, but there is little doubt that having futures options has brought a lot of new money to crypto, and drawn the eyes of many major investors.
It may surprise many people to learn, however, that Bitcoin wasn’t the only (or even the first) cryptocurrency to have futures options. In October of 2016, Crypto Facilities actually launched XRP Derivatives. This is a futures market for Ripple, which has been running ever since.
For whatever reason, this hasn’t gotten the attention of mainstream investors or the media up to this point. Despite that, there has been a slowly growing market, which in December reached a little over $14 million in volume for the month. In January, however, that number doubled to over $24 million. In February, it was nearly $30 million.
Needless to say, the growth is continuing, and it is quite impressive. While the growth is starting to come quickly now, it is still in its early phases and may present a great opportunity for people to get in while the price of XRP remains relatively low.
XRP is currently trading at a little over $.57 per coin, down from its highs of over $3. With the growing attention this coin is getting from the futures market, it is a good bet to say it will be going up quickly over the next several months.
This is on top of the other positive news items that Ripple has enjoyed over the past month or two. If it weren’t for the overall downtrend we’ve seen for crypto since January, there is little doubt that XRP would be shooting up quickly. This seems to indicate that at some point, it will have a breakout moment, and those who buy in at or around these low prices should have some very positive returns to enjoy.