Quick overview

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Franklin Templeton proposed a spot XRP filing, but the U.S. Securities and Exchange Commission (SEC) has postponed its decision. The deadline for the SEC to make its announcement has been extended from May 3.

 

Franklin Templeton is the largest player to apply for an XRP ETF.   The $1 trillion asset manager filed its S-1 form in early March. Jenny Johnson, the CEO of Franklin Templeton, recently expressed her optimism about cryptocurrency, stating that it represents the future of the financial industry.

Many crypto-native companies, including Bitwise and 21Shares, have filed XRP ETF applications. The SEC also postponed the company’s Solana ETF filing earlier today. Although Fidelity and BlackRock have not yet entered the race, some analysts are positive they will.

The token, which is currently trading at about $2.15 on Friday, maintains a technical bearish picture. The muted price action reflects a calm attitude and a lack of confidence in the larger cryptocurrency market’s ability to continue recovering.

The adoption of XRP spot Exchange Traded Funds (ETFs) in Canada on Wednesday was overshadowed by this lukewarm trading. Despite meeting market expectations and maintaining interest rates between 4 and 25 percent, the Federal Reserve (Fed) has largely restrained interest in cryptocurrencies, including XRP.

However, the central bank has presented a hawkish stance, citing tariffs as a major driver of potential short-term inflation