The launch of XRP Futures on the CME has begun a new chapter for the cryptocurrency's liquidity. The introduction of this trading option by traditional financial institutions could enhance the chances of approval for an XRP exchange-traded fund (ETF).

Experts predict a higher likelihood of an XRP ETF approval following the commencement of live trading. Despite the lack of a significant price reaction from XRP itself, the announcement had been anticipated and may have already been factored into the market.

After much anticipation, the CME Group has officially launched XRP and Micro XRP Futures contracts as planned since the initial announcement in April. Ripple CEO Brad Garlinghouse confirmed the first trades occurred on Hidden Road, a brokerage platform recently acquired by Ripple.

The trading data for XRP Futures is not publicly available due to the recent launch. However, the commencement of CME futures trading signifies several anticipated benefits for XRP, including a potential boost for the XRP ETF's approval odds.

Analysts suggest that SEC approval for the XRP ETF is now imminent, with over an 80% prediction rate on Polymarket. Nonetheless, the final approval remains pending despite the recent developments.

Following a recent court decision on the SEC v Ripple lawsuit, uncertainties persist within the XRP community regarding its classification as a security or commodity. This classification could impact the ETF approval process.

While the XRP price has not seen a significant increase post the CME Futures launch, the event signifies a crucial step forward for the long-term growth of XRP, introducing greater liquidity and institutional exposure, ultimately paving the way for potential ETF recognition.