Coinbase introduced its XRP futures, a historic move for the crypto space. Investors now have two types of futures contracts under the watchful eye of the U.S. Commodity Futures Trading Commission (CFTC) as of April 21, 2025. Despite this success, Ripple has pending lawsuits, as the Oregon Attorney General included XRP in a lawsuit filed against Coinbase.
XRP Futures Launch on Coinbase
Coinbase’s new XRP futures product includes 10,000 XRP contracts and retail-focused “nano” contracts for 500 XRP at approximately $1,000. The addition makes Coinbase’s derivatives product more diverse, with over 90 assets traded globally. The release comes after regulated crypto derivatives grew in popularity in the U.S. market following their introduction by exchanges such as Robinhood and the Chicago Mercantile Exchange.
Analysts contend that the listing of XRP futures will bring greater stability and liquidity to the asset. Growing institutional involvement is likely to bring more robust pricing mechanisms that will favour XRP owners with the best trading conditions.
Legal Challenges from Oregon
Oregon AG’s lawsuit on Coinbase asserts XRP and other cryptos, such as SOL and ADA, were traded as securities.
Legal commentators like Bill Morgan deride the move, saying it disregards prior court directives. Coinbase previously delisted XRP in December 2020 following the SEC lawsuit, but restored it mid-2023 after receiving a favourable court ruling.
Morgan referred to the Oregon AG’s action as “dystopian nonsense,” noting that XRP was never a part of the SEC’s past lawsuits against Coinbase.
Ripple’s Court Agony Continues
Though the pressure is all from Oregon’s suit, Ripple recently had a huge win in its long-brewing suit with the SEC. CEO Brad Garlinghouse reported last month that the SEC would be abandoning its latest appeal, with the potential that it could settle a long-smouldering court fight. There are still other legal proceedings to be finalized before legally closing the case.
The U.S. Court of Appeals for the Second Circuit permitted Ripple to put individual appeals into abeyance, on the brink of settlement. Even as this was achieved, analysts caution that the ruling itself will not be in a position to significantly affect XRP’s market standing since so much of the effect already appears to have been priced in. Regardless of the verdict, XRP futures and litigation will decide the fate of Ripple and its users.
