XRP has experienced an exceptionally dynamic price rebound in recent days, with its market value, according to TradingView, rising by 23% over the past 5 days. While the overall crypto market has gradually been recovering during this period, XRP has shown a more significant and faster growth compared to most other digital assets.

Why is XRP rising so sharply?

One of the main reasons is the launch of trading with ETF funds linked to this cryptocurrency. These ETFs have attracted attention from both institutional and retail investors. This increased demand naturally creates upward price pressure. From a technical perspective, however, this is not a random movement. XRP bounced off a significant support level that has previously played a crucial role in market behavior. A similar scenario occurred in April of this year, when the price bounced off the same zone and triggered another upward wave. The current development suggests that the market is responding not only to fundamental news but also to long-respected technical levels, which may support a continued positive trend.

Buy XRP on Binance and get up to $100 bonus

Franklin Templeton enters the exchange

The XRP ETF by Franklin Templeton appeared on the NYSE Arca exchange under the symbol XRPZ. This opened doors for investors who prefer regulated and transparent investment instruments, according to Cointelegraph.

This step follows a broader trend in which traditional financial companies expand their portfolios to include crypto products. Franklin Templeton had previously launched index funds for Bitcoin and Ethereum. But adding XRP attracted exceptional attention, mainly because the cryptocurrency was previously at the center of legal disputes with the SEC.

The situation changed significantly after the US SEC withdrew its lawsuit against Ripple and its executives in March. The dispute was definitively resolved in August through a settlement of €125 million. The end of legal uncertainty allowed for the creation of ETF products, which must undergo a thorough approval process. Franklin Templeton thus paves the way for other companies to launch their own crypto ETFs, as regulatory authorities have shown a willingness to approve these products. For traditional portfolios, this can be an interesting diversification opportunity, bringing the dynamics of cryptocurrencies closer to everyday investors.

Buy XRP