XRP Price Soars 3.6% as Franklin Templeton Files for a Spot XRP ETF

XRP has experienced a significant 3.6% price surge, following Franklin Templeton's application for a spot XRP exchange-traded fund (ETF).

Massive asset manager Franklin Templeton has applied to launch a spot xrp (xrp) exchange-traded fund (ETF), joining 16 other financial institutions in seeking approval for the cryptocurrency derivative.

The move comes after reports that the u.s. securities and exchange commission (sec) could reach a final verdict on its case against blockchain firm ripple labs by april 16.

Together, these developments could propel xrp prices to new highs in the coming weeks.

Franklin templeton’s entry into the xrp ETF is a major development. The firm manages a staggering $1.5 trillion in investments, making it a key player in the financial world.

Its interest in launching an xrp ETF has immediately sparked positive reactions in the market, pushing up the cryptocurrency’s price by 3.6%.

With Franklin Templeton now applying to launch a spot xrp ETF, the total count of asset managers seeking approval for the cryptocurrency derivative has reached 17.

This influx of applications from major Wall Street entities showcases the increasing institutional interest in xrp.

If these ETFs are approved, it could open the door for significant capital to flow into xrp, boosting its price potential even further.

Reports suggest that the sec case against ripple labs could conclude by april 16, presenting another strong narrative that might generate buzz in the coming weeks.

Moreover, ripple labs founder brad garlinghouse recently participated in the white house’s first-ever crypto summit, sitting alongside president trump and coinbase ceo brian armstrong.

As the sec case wraps up, this newfound relationship with the trump administration helps legitimize xrp and could advance its goal of institutional adoption for cross-border payment solutions.

Most top cryptocurrencies, including bitcoin (btc) and ether (eth), have pulled back to new yearly lows. But xrp has shown strength in holding the $2 level as support.

Popular Web3 analyst milkybull crypto notes that xrp is “among the strongest charts” in crypto.

Another analyst, solberg invest, has published technical analysis showing that xrp could rally to $4.40 by april.

With catalysts such as pending ETF approvals and the hotly anticipated sec lawsuit verdict, these bullish analytical results align with xrp’s increasingly positive fundamentals, projecting potential 2x gains from current price levels.

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