CME Launches Nasdaq Crypto Index Futures for Broader Market Exposure
- Product Launch: CME Group officially launched Nasdaq CME Crypto Index futures on June 9, allowing traders to gain exposure to eight major cryptocurrencies, including Bitcoin and Ethereum, significantly enhancing trading convenience in the market.
- Contract Structure: The futures include a standard contract (NCI) and a micro contract (MCI), based on $10 and $1 times the index value respectively, enabling investors to achieve broader crypto market exposure without directly holding the underlying assets.
- Market Demand Response: Giovanni Vicioso, CME's global head of cryptocurrency products, noted that there is a growing demand for diversified investment tools, and these contracts provide clients with a cost-effective risk hedging tool, further driving the development of the crypto derivatives market.
- Extended Trading Hours: CME now offers 24/7 trading for cryptocurrency futures and options, apart from maintenance windows, allowing global traders to trade over the weekend, thereby further bridging the gap with continuous spot trading in cryptocurrencies.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.922 | 0.986 | 1.059 | 1.123 | 1.195 | 1.259 | 1.332 |
| Fibonacci | 0.986 | 1.038 | 1.07 | 1.123 | 1.175 | 1.207 | 1.259 |
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