In the last 24 hours, XRP has shown a noticeable 3% increase, potentially indicating a short-term rally.
3% Rise and Potential Rally
XRP has recently increased by 3%, reaching $2.14 after briefly touching $2.24. However, uncertainty continues to affect investor confidence, as evidenced by Franklin Templeton's interest in launching a spot XRP ETF.
Institutional Interest and Regulatory Hurdles
Franklin Templeton's move follows its Solana ETF filing last month. This aligns with asset managers' growing efforts to secure regulatory approval for cryptocurrency funds. However, the United States Securities and Exchange Commission (SEC) remains cautious, delaying decisions on multiple spot cryptocurrency ETFs, including XRP, Solana, Litecoin, and Dogecoin. The next review date is set for May.
Future of Crypto-ETFs and Market Expectations
Approval of crypto-ETFs could serve as a significant boost for the market, opening new doors for both individual and institutional investors.
XRP's 3% rise and Franklin Templeton's interest in ETFs suggest a possible short-term rally and increasing institutional interest in cryptocurrencies.
