$1.6 trillion asset manager Franklin Templeton said demand for XRP as a ‘need’ rather than for speculation is rising among institutions. XRP and XRP Ledger are driving real-world utility for financial infrastructure, with pro-crypto policies for cross-border payments and tokenization bridging the traditional finance (TradeFi) gap.
Franklin Templeton Positions XRP as Foundational Pillar for Future Financial System
During a Paul Barron podcast, Franklin Templeton’s head of digital assets Roger Bayston discussed the firm’s perspective on XRP, the XRP Ledger (XRPL), institutional adoption, and the shift toward utility-driven involvement in digital assets. He explained why tradeFi institutions are betting big on crypto assets, especially XRP.
Roger Bayston highlighted Franklin Templeton’s launch of the Franklin XRP ETF (XRPZ) and integration of tokenized money market funds on XRPL. He claims the SEC-CFTC harmonization initiative will serve as a catalyst for the next phase of institutional adoption.
He said, “They didn’t buy XRP to speculate. They bought it because they needed to use it,” emphasizing institutions building and relying on blockchain networks.
Institutions and Whales Accumulating XRP Price Dips
Institutions and whales continued to accumulate XRP during the latest selloffs amid concerns about the Fed rate hike risks and an escalating US-Iran war.
Notably, spot XRP ETF saw $636.48K in net inflows despite the XRP price dropping to $1.36. Institutional inflows have remained robust, while Bitcoin and Ethereum ETFs have recorded outflows amid the latest crypto market crash. Total net assets in XRP ETF stand at $1.1 billion, with cumulative net inflows until now at $1.21 billion.
Meanwhile, on-chain data revealed that Ripple whales also continued to boost their holdings. CryptoQuant’s XRP Whale Flow 30DMA signals strong conviction among whales for a potential XRP price recovery. Whales are buying more than 7 million XRP daily, according to the on-chain data.
XRP Whale Flow 30DMA. Source: CryptoQuantAnalyst Ali Martinez shared a 12-hour XRP price chart, highlighting that TD Sequential is flashing a buy signal. He predicts XRP will likely rebound as the sentiment in the crypto market improves.
Source: https://coingape.com/1-6t-franklin-templeton-reveals-why-they-are-betting-big-on-xrp/
