Crypto Market Reacts to Coinbase XRP Futures April 21 Launch— Will Ripple Price Hit $3.51?

In today XRP news, we have an announcement about the progress towards Coinbase XRP futures. Based on this, we know that this exchange has filed a request to the U.S. Commodity Futures Trading Commission. This filing requests approval for the self-certification of XRP futures by Coinbase Derivatives. Will XRP futures be available on Coinbase or not depends on the smooth progression of this process and approval. Coinbase aims to host XRP futures by  April 21, 2025, offering safe access to these products. This move will give Coinbase’s retail and institutional users more accessibility and more options. 

Will Coinbase XRP Futures Approval Spark a Surge?

Coinbase Institutional released the announcement of this move on its official X page. If Coinbase proves to be successful in getting the CFTC approval, it will also send a powerful message about XRP. This will set a precedent for XRP’s acceptance in the regulated and centralised crypto sector. Especially regarding future contracts, where their speculative nature makes them much more risky than normal trading. 

We're excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify $XRP futures – bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets.

We anticipate the contract going live on April 21, 2025.

Stay tuned… pic.twitter.com/nKUPjjnMKW

— Coinbase Institutional 🛡️ (@CoinbaseInsto) April 3, 2025

Approval for self-certification is important because this way, Coinbase XRP futures will be easier to implement. With the approval of this filing, Coinbase does not need to get an explicit green light from CFTC. However, Coinbase should still operate in line with the provided guidelines and rules. This is a common approach for exchanges as they are trying to test their capabilities for hosting a new security. Such a move can be very beneficial for XRP as it can attract a lot of new institutional investors.

How RLUSD Stablecoin Listing on Kraken Benefits XRP?

Although it remains to be seen whether XRP futures will be available on Coinbase, we have another positive Ripple development. In another recent announcement, Ripple stated that Kraken is listing Ripple’s RLUSD stablecoin. This will increase the adoption of XRP, as the Ripple payment system is intertwined with both coins. Additionally, this stablecoin and its recent listing can bring new institutional investors into the Ripple ecosystem. Increasing utility and network activity for the XRP token as well. Additionally, today XRP news seems to be mostly positive as we also have a bullish XRP price prediction.

Will the Coinbase Futures Listing Fuel a Rally to $3.51?

In line with the positive sentiment of Coinbase XRP futures listing, the price movement is also bullish. This is because if we follow the movement between January 16 and today, April 4, we can see a bullish formation. This pattern is called the symmetrical triangle, and XRP has been retesting its lower trendline. Historically, XRP has tested this zone several times before, each time leading to a rebound in value. As such, with the recent fall of the price close to this trendline at $1.98, we are expecting a rebound.

As such, if this proves to be true, we can set the XRP price prediction to $2.40. This is because this price point presents the zone above the triangle’s descending trendline. $2.40 also presents a level near the 50-day SMA for XRP, which makes it an essential resistance. The max target for this rally would be the distance between the triangle’s lowest and highest points. This gives us $3.51 as the bullish target and represents a potential for a 73% increase. 

Why Crypto Experts Believe XRP Will Explode

Other analysts have also given their prediction and believe this coin will see a bullish movement soon. Steph Is Crypto said that he sees heavy compression in the XRP price, which will trigger a breakout. Additionally, the crypto analyst Dark Defender gave an analysis based on the Elliott Wave theory. He stated that the current correction will end in weeks. As such, we should see a sharp increase in XRP value soon.