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.
Notably, they talked about Defi protocols, NFTs, & even meme crypto tokens.
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.
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.
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.
Read also: Bitcoin crashed 6% because of whale activities, Here is the expected next move
