- Franklin Templeton’s XRP ETF filing boosts market confidence, pushing XRP’s price higher amid growing institutional interest.
- A successful ETF approval could enhance XRP’s liquidity and market access, positioning it for long-term growth.
In line with a recent CNF report, Franklin Templeton has officially submitted an S-1 filing with the SEC for a Solana-based spot ETF. The investment giant, managing assets worth $1.6 trillion, has also officially filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) to launch a spot XRP Exchange-Traded Fund (ETF).
The Trust was formed on February 28, 2025. According to the prospectus:
The Trust has established one series, Franklin XRP ETF, which is offered pursuant to this Prospectus. The Fund issues common units of beneficial interest, or Shares, which represent units of fractional undivided beneficial interest in and ownership of the net assets of the Fund. The Trust is governed by the Declaration of Trust and sets out the rights of registered holders of Shares.
Market Response: XRP Price Dynamics
The announcement has positively impacted XRP’s market performance. This rise underscores growing investor confidence in XRP, especially with the potential introduction of ETFs that could provide broader market access.
According to CoinMarketCap data, XRP is currently trading at approximately $2.17, reflecting a 2.78% increase over the past 24 hours. This uptick aligns with Franklin Templeton’s recent filing for an XRP ETF, signaling growing institutional interest in XRP.
The introduction of XRP ETFs could enhance market liquidity and accessibility, potentially driving further price appreciation. See XRP price chart below.
Technical Analysis: Support and Resistance Levels
Technical analysts observe that XRP has maintained its 0.5 Fibonacci support level, indicating strong consolidation. The Relative Strength Index (RSI) trendline also remains intact, suggesting diminishing selling pressure.
For sustained bullish momentum, XRP must hold above support levels at $2.04 and $2.11. Key resistance points are identified at $2.25 and $2.70, with a breakout above these levels potentially signaling a significant rally.
Regulatory Landscape: SEC’s Deliberations
The SEC recently extended its decision on Grayscale’s XRP ETF application to May 21, 2025, indicating a thorough evaluation process.
Franklin Templeton’s filing adds pressure on regulatory bodies to provide clear guidelines for crypto-based investment products.
