The new regulations approved by the SEC on the Cboe exchange have opened up opportunities for financial institutions to expand cryptocurrency ETF funds, allowing them to hold a more diverse basket of digital assets. Franklin Templeton is one of the pioneers in this trend.
According to Coin Photon, this renowned asset management company is looking to add Ripple (XRP) to its investment portfolio, expanding the scope of the Franklin Crypto Index ETF. At the same time, Franklin Templeton has also launched its own spot XRP product named XRPZ Trust. This information has created a strong impetus, pushing the price of XRP to increase significantly on Monday, November 24.
Previously, the price range of $2.05–$2.15 was a short-term resistance level, but it is currently being tested again as a strong support area. However, looking at the longer time frame, XRP still maintains an overall downtrend. Reserves on the exchange are decreasing and widespread short selling is opening up the possibility of a short-squeeze phenomenon. The question is: How far can this short-term upward momentum break through?
These increases are not enough for the XRP bulls to celebrate.
XRP/USDT Daily Chart | Source: TradingViewThe 1-day timeframe chart shows a large imbalance area (white box) remaining after the crash on October 10, and in the following weeks, this area has become a significant resistance.
The price drop in November, especially after November 11th, saw a significant increase in sales volume, enough for XRP to create a new swing low and maintain the overall bearish trend. Overall, the structure on the daily timeframe still leans towards the bears.
XRP/USDT 4-hour chart | Source: TradingViewHowever, on the 4-hour chart, the internal structure leans towards a bullish trend. The most recent lower high at $2.15 on November 20 has been broken, but the OBV index has not yet surpassed the previous lower high, reflecting weak buying power as the price rises. Over the past three months, XRP has frequently broken local lows on the 4-hour chart, and these fluctuations often target areas that previously triggered strong rallies — such as the spike to $2.55 on November 10. When retested, this level triggered the subsequent decline, ending recently.
Therefore, XRP bulls need to be cautious. The increase to $2.4–$2.5 is feasible, but the final scenario may still repeat as before.
SN_Nour
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
XRP Quantum Risk Exposure Seen as Limited, With 0.03% of Supply Affected
A recent report indicates that only 0.03% of XRP's total supply is at risk from quantum computing, as most wallets are active and can manage security updates. The threat remains largely strategic rather than urgent, with a focus on proactive mitigations.
CryptoNewsFlash49m ago
Yesterday, US spot XRP ETF saw net outflows of $661.2k, with the 21Shares product experiencing single-day outflows
As of April 10, the U.S. XRP spot ETF saw a total net outflow of $661.2k on April 9, mainly caused by the 21Shares XRP ETF. The product’s historical total net inflow is -$25.8450 million. Its current total net asset value is $955 million, and its historical cumulative net inflow totals $661.2k.
GateNews1h ago
Evernorth Amended SEC Filing Deepens XRP Role in Crypto Market Structure
Evernorth advances its SPAC merger with an amended SEC filing detailing XRP-based financing, refining how token contributions translate into equity within its planned public market debut.
Key Takeaways:
Evernorth advances SEC filing with XRP-based equity tied to 126,791,458 tokens from Ripple.
R
Coinpedia4h ago
XRP Whales Accumulate as Ripple Executives Head to Key XRPL Event in Japan
XRP has gained 5% from a support level of $1.28 due to increased whale accumulation, with large holders now buying over 11 million XRP daily. Ripple executives are attending a significant XRPL event in Japan, though broader market sentiment remains cautious amid geopolitical tensions.
CryptoNewsFlash5h ago
XRP Lawyer Warns CLARITY Act Could Lose Momentum if Summer Delays Persist
The CLARITY Act's chances of passing depend on timely legislative action, as summer distractions and midterm politics could hinder progress. Delays may complicate its path, especially if political dynamics shift post-election.
CryptoNewsFlash5h ago
XRP Eyes $1.60 as April History Shapes Market Expectations
Key Insights:
XRP historical April data shows sharp gains and losses, with 2021 marking a 180% surge while recent years reflect declining monthly performance trends.
Current price consolidation between $1.28 and $1.36 suggests reduced volatility, signaling a potential breakout as traders mon
CryptoNewsLand9h ago
