The XRP token is experiencing muted price action as traders await the potential catalyst of regulated futures trading on the Chicago Mercantile Exchange Group, scheduled for May 19th. The token has been range-bound between $2.32 and $2.62 over the past week, currently holding steady at $2.37, with only a marginal gain of 0.7% in the last day. While price action remains stagnant, market activity has surged significantly. The 24-hour trading volume for XRP (XRP) jumped by 46.8% to $3.2 billion, indicating renewed interest among traders. This increased volume is accompanied by a decrease of 0.26% in open interest, yet derivatives volume is up by 48%, according to Coinglass data. This suggests short-term positioning without long-term conviction, potentially in anticipation of the upcoming CME futures launch.