XRP News: CryptoCom Launches New XRP Product as ETF Hype Heats Up

Pending when an XRP ETF product is launched, the Cryptocom exchange has launched a product to boost its trading. As revealed, the platform has introduced strike options for XRP. Notably, this will allow users to predict the coin’s price movement within a 20-minute window. 

Cryptocom Unveils Strike Options For XRP

Cryptocom has officially launched strike options for XRP. According to the update, this will give traders the chance to predict the coin’s price movement in short timeframes. With just $10, users can place trades and potentially profit by simply answering “yes ” or” no ” to whether XRP will move beyond a specific price in 20 minutes.

It is worth noting that these options offer high-risk, high-reward scenarios and are designed for fast-paced trading environments. The product allows early exit if the price moves in the trader’s favor before the contract ends, which adds a strategic element to the experience. 

Over the past few months, different XRP products have emerged. Bitnomial launched XRP contracts in March, capitalizing on the Ripple lawsuit breakthrough.

Meanwhile, the Cryptocom Strike options are already live for Bitcoin and Ethereum, but adding XRP expands the platform’s offerings. Significantly, these products are regulated by the Commodity Futures Trading Commission (CFTC), adding a layer of oversight.

This is not Cryptocom’s first venture into short-term XRP trading tools. It released the “up-and-down” options in February, automatically closing positions at preset profit or loss levels. 

XRP ETF Approval Odds Soar Amid Delays

While traders test new ways to engage with XRP, another story unfolds around the long-awaited spot ETF. According to Polymarket, a platform that tracks event-based predictions, the XRP ETF approval odds have jumped to 83%, up 13% from the previous week. 

This increase came even after the U.S. Securities and Exchange Commission (SEC) delayed several applications. For context, Bitwise, CoinShares, Franklin Templeton, and Grayscale are among the firms waiting to make decisions. 

Meanwhile, analysts point to October as a likely time for rulings. This is because the current delays are seen as part of a standard review process. Despite the hold-ups, the market is reacting positively, likely influenced by rising institutional interest and other XRP-related product launches.

Institutional Interest In XRP Building Up

The rise in confidence is supported by actual market activity. CoinGape recently covered the fact that Volatility Shares launched the first XRP futures ETF on the Nasdaq under the ticker XRPI. 

Additionally, CME Group joined in with its own XRP futures contracts launched on May 19. According to market sentiment, these moves give investors more access to XRP through regulated channels.

It is worth noting that the narrative around XRP continues to shift as more products hit the market. Likewise, the mix of regulated trading tools and rising ETF approval chances shows that XRP is gaining traction beyond retail investors. CoinMarketCap data shows that XRP is trading at $ 2.30 as of press time.