Crypto.com, a major exchange, has initiated trading for Ripple (XRP) futures and added this token to its UpDown options. Ripple futures contracts are now available alongside Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Avalanche (AVAX), Polkadot (DOT), and Chainlink (LINK) on the exchange’s app. UpDown options are the first cryptocurrency derivatives products operating under the supervision of the Commodity Futures Trading Commission (CFTC), allowing users to profit from price changes in all market conditions. These options are designed to automatically expire if the asset price reaches a pre-set ceiling or floor. Users can buy or sell contracts based on their market trend predictions. This feature is currently only active for U.S. users. Adding XRP to UpDown options increases traders’ flexibility and enables them to profit from upward and downward fluctuations. This new feature could boost future traders’ participation, especially given Ripple’s recent volatility. At the time of writing, XRP has grown by 3.13% in the past 24 hours, reaching $2.47. In an upward scenario, the first target for bulls is reclaiming the significant 50-day Simple Moving Average level at $2.62, previously acting as support but now turned into resistance. If successful in surpassing this level, Ripple will move back towards $3. On the other hand, in a downward scenario, the price may fluctuate between the 50-day and 200-day Moving Averages, located at $2.62 and $1.32 respectively. In this case, if the price decreases, Ripple will likely seek support around $2. For real-time cryptocurrency prices, visit the digital currency price page to monitor all tokens and cryptocurrencies live.
