For including the XRP-Dollar reference rate and indexes, Ripple's CEO expressed gratitude to CME Group and CF Benchmarks.

Institutional crypto goods, according to Brad Garlinghouse, have reliable reference rates, which boosts investor confidence.

On Friday, XRP trades at $0.4719, extending gains of 5%.

After CEO Brad Garlinghouse announced that the CME Group and CF Benchmarks will be adding XRP-Dollar reference rates and indices, Friday's trading mood for Ripple (XRP) turned positive.

Both the CME Group and CF Benchmarks are prominent in the derivatives market, with the former serving as an FCA-regulated benchmark administrator. The asset's move towards finding use in institutional crypto products is shown by the inclusion of XRP indexes.

The executive emphasizes the reliable reference rates of institutional crypto goods, which contributes to the favorable feeling around XRP in the market.

On Friday, XRP traders showed a favorable emotion, according to the CryptoEQ sentiment tracker. The tracker determines the sentiment by analyzing mentions of the asset in various media and social media sites.

Since Attorney Fred Rispoli anticipated that the legal fight would finish in July 2024, there has been no additional update in the Securities and Exchange Commission (SEC) vs. Ripple litigation.

Right now, one XRP token can be purchased for $0.4719.

According to the XRP/USDT daily chart, XRP has the potential to rise to $0.5205, which would be a gain of about 10% from its present position. The MACD indicator, which stands for Moving Average Convergence Divergence, indicates that the price trend of Ripple is progressing positively.

As seen in the chart above, XRP has the potential to attract liquidity in the $0.40 to $0.44 range, which is known as the Fair Value Gap (FVG), should it undergo a correction. The $0.3823 low from July 5th might provide as support for a further decline in the price of Ripple.