Emma Nelson 
Franklin Templeton, a well-known asset management firm, has become the latest major player to enter the competitive race for an XRP exchange-traded fund (ETF), submitting its S-1 filing to the US Securities and Exchange Commission (SEC). This move comes as part of a broader trend, with an increasing number of asset managers seeking approval to launch cryptocurrency-related ETFs, especially after President Donald Trump took office. The approval of these ETFs has become a pivotal aspect of the regulatory landscape surrounding digital assets, and Franklin Templeton’s filing signifies the firm’s ambition to capitalize on the growing interest in cryptocurrency investments.
Franklin Templeton
Franklin Templeton Joins the XRP ETF Race The filing for the XRP ETF comes shortly after Franklin Templeton also filed to offer a Solana ETF. The firm, which is no stranger to the cryptocurrency world, already offers spot Bitcoin and Ethereum ETFs, further solidifying its position as a key player in the digital asset investment space. This latest development indicates the firm’s commitment to broadening its portfolio by including other significant blockchain-based assets like XRP.
Franklin Templeton’s entry into the XRP ETF space places it among other prominent firms, such as 21Shares, Canary Capital, Grayscale, WisdomTree, and Bitwise, which have already filed to launch their own XRP ETFs. Notably, the SEC has already acknowledged the 19b-4 filings from 21Shares, Bitwise, and Grayscale, which gives them an advantage in the race for approval. However, Franklin Templeton still needs to submit its 19b-4 form to the SEC, a crucial step that will officially begin the approval process. Once filed, the SEC will register the form in the Federal Register, and the clock for the approval or rejection decision will start ticking.
XRP Price Surges Following ETF Filing In the wake of Franklin Templeton’s XRP ETF filing, the price of XRP has experienced a significant surge, gaining over 8% in just 24 hours. This surge marks an impressive recovery for the cryptocurrency, which had briefly dipped below the $2 mark just a day earlier. The price surge is being attributed to the optimism surrounding the potential approval of the XRP ETF, which is seen as a major positive catalyst for the asset.
Crypto analyst CasiTrades has weighed in on the current price action, observing that XRP has successfully held the 0.5 Fibonacci support level with precision. This suggests that the cryptocurrency is maintaining its bullish trend, with consolidation structures holding steady. The analyst pointed out that selling pressure appears to be exhausted, and the Relative Strength Index (RSI) trendline has continued to support the bullish divergence. For XRP to maintain its upward trajectory, CasiTrades highlighted the importance of the cryptocurrency holding above key support levels at $2.04 and $2.11, as these are crucial to sustaining the consolidation pattern.
Looking ahead, the next resistance levels are expected to be at $2.25 and $2.70, which could serve as the next breakout points for XRP. Despite recent fluctuations, CasiTrades remains confident that XRP’s price action is bullish and that the potential for further gains exists, especially with the increasing momentum surrounding the ETF filings and the growing institutional interest in XRP.
As the SEC continues to review these ETF filings, the market will likely keep a close eye on developments, particularly as other firms also wait for approval and the cryptocurrency landscape evolves with increasing institutional involvement.
