$RP skyrocketed because it was officially launched on the Chicago Mercantile Exchange (CME)! A few weeks ago, the derivatives giant announced that it would do something new with XRP, and it didn't disappoint.

Do you remember that Crypto Basic reported that CME was going to set a benchmark for XRP so that traders could have a clearer idea of ​​how much this thing is worth? Now, it's come true! There are two more XRP-related benchmarks on the CME platform: one is the real-time price index of XRP against the US dollar (XRPUSD_RTI), and the other is the reference rate (XRPUSD_RR).

Simply put, the reference rate is like the "official price" of XRP every day. CME

will calculate it once a day based on data from some major exchanges (such as Bitstamp and Coinbase). The real-time index is the latest price that is updated at any time, which is similar to the real-time market in the stock market.

Interestingly, CME classified XRP in the category of "payment and value storage", which made XRP fans very happy because they have always said that XRP is used for payment.

By the way, last year a judge said that XRP is not a security, and XRP finally breathed a sigh of relief. Previously, the issue of whether it was a security caused a lot of controversy, and many platforms dared not get involved, fearing that they would get into trouble.

In the final analysis, if cryptocurrencies want to be popular, they must be visible and tangible.

This wave of operations by CME is a big advertisement for XRP, and it will be more convenient for everyone to check the price in the future. Although XRP has been around for many years, it is a milestone to be able to enter the CME hall this time.