XRP whales optimistic, Ripple pitches idea of XRP use with $1.6 Trillion Asset Manager

On Jan 19, 2024

XRP whales became more bullish, as Ripple pitched the merits of the XRP Ledger (XRPL) to fund manager Franklin Templeton.

Ripple (XRP) is a San Francisco headquartered fintech firm and Ripple Labs is the engineering team behind XRP cryptocurrency development. XRP Leger (XRPL) is the Proof-of-Stake (PoS) blockchain network at which XRP cryptocurrency runs. XRP crypto works independently and Ripple uses XRP coin in the cross-border payment services.

Recently in a post, a $1.6 Trillion Asset Manager Franklin Templeton shared his intention to crypto & blockchain technology adoption for the existing business.

JUST IN: $1.5 trillion spot #Bitcoin ETF issuer Franklin Templeton says "crypto is improving how we interact with each other financially, just as the internet did with information."
— Bitcoin Magazine (@BitcoinMagazine) January 17, 2024

Notably, they talked about Defi protocols, NFTs, & even meme crypto tokens.

On Solana, we see Anatoly’s vision of a single atomic state machine as a powerful use case of decentralized blockchains, lowering information asymmetry. And we are impressed by all the activity seen on Solana in Q4 2023
-DePIN
-DeFi
-Meme coins
-NFT innovation
-Firedancer
— Franklin Templeton (@FTI_US) January 17, 2024

In response, Ripple CTO David Schwartz pitched the merits of the XRP Ledger (XRPL) to Franklin Templeton and said that XRPL is a good example of the crypto innovation, as XRPL successfully executed millions of transactions with full stability & security over the decade.

And also said that XRP is better for crypto & traditional financial assets e.g. tokenization.

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I agree @FTI_US! The XRPL's decade-long track record in reliability and stability is unmatched, especially in tokenizing and exchanging both crypto-native and real-world assets. #XRPL https://t.co/bvkxIrArPH
— David "JoelKatz" Schwartz (@JoelKatz) January 18, 2024

It is worth it to note that Ripple is already a top popular name in the fintech industry because of its efficient cross-border payment services, thanks to XRP cryptocurrency. So there are huge chances that Franklin Templeton might show interest in XRP.

XRP price

The current trade price of XRP is $0.55 & this trade price is 7.73% down over the 7 days of trade price.

XRP whales optimistic, Ripple pitches idea of XRP use with $1.6 Trillion Asset Manager 1

Ripple has been under huge legal hurdles with the United States Securities and Exchange Commission (SEC) since Dec 2020 over the nature of XRP & business activities with XRP. Because of the Ripple vs SEC suit, the trade price of XRP coin faced a huge downfall.

Three months ago, when the court judge ruled that XRP was not a security token then the trade price of XRP coin surged by nearly 70% but after that, this cryptocurrency is struggling badly to show a big rally.