XRP joined the rest of the market in marking a noticeable recovery following reports that Franklin Templeton—a well-known investment manager with a total of $1.5 trillion worth of assets—has submitted a filing with the SEC to launch an XRP exchange-traded fund.
The top asset manager, according to media reports, entered the XRP ETF race on Tuesday, joining the likes of 21Shares, Canary Capital, Grayscale, Bitwise, and WisdomTree that have also applied to offer similar products.
This news, coupled with the slight relief in the broader market, brought XRP back into the green.
$1.5T+ ASSET MANAGER FRANKLIN TEMPLETON FILES S-1 REGISTRATION STATEMENT FOR SPOT $XRP ETF
— The Wolf Of All Streets (@scottmelker) March 11, 2025This news, coupled with the slight relief in the broader market, brought XRP back into the green.
At the time of writing, the fourth-largest crypto by market has gone up 8% on the daily chart to reclaim the $2 mark.
Is XRP the best crypto to buy now?
XRP Price Analysis
The XRP price has rebounded strongly, surging 8% to trade at $2.15 as the crypto market attempts a recovery. The daily chart for XRP/USD shows that the price is within a well-defined falling wedge channel, with the nearest resistance at $2.58 and the nearest support at $1.98.
The 50-day MA (orange) at $2.58 is slightly above the 200-day MA (blue) at $1.62, indicating a minor bullish momentum. However, the price has recently tested the channel’s lower boundary and is attempting to rebound.
Suppose the bulls sustain the price above the 50-day moving average, they could trigger renewed buying strength. In that case, there is a strong possibility that XRP will push toward the $2.93 resistance level, where a breakout could trigger further upside potential.
Can Bulls Push The XRP Price To The $2.58 Barrier?
From a technical perspective, XRP trades between $2.15, showing signs of a rebound after hurtling from the $2.09 mark. However, the recent surge in long orders, reflected by increasing open interest, indicates that buyers are regaining market control.
In the likely event that the bulls regain full dominance, XRP could rally toward the next barrier at $2.93. However, a fall in the trading volume suggests indecision among some traders, meaning that a breakdown below $1.98 support could invite more selling pressure.
If sellers push the price below the $1.62 support level, the market structure may turn bearish, potentially leading to deeper declines. The next move will depend on whether XRP can sustain its momentum above the moving averages.
A strong push toward the $2.58 resistance zone would confirm bullish control, and breaking above this level could open the door for higher price targets toward resistance levels at $2.93, $3.16, and $3.50.
On the other hand, if $1.98 fails to hold as support, traders should be cautious of a potential retest of $1.92, which could signal a deeper pullback.
Technical Indicators Show Mixed Reactions
A zoomed-out view of the technical indicators shows a potential rebound soon. The Relative Strength Index (RSI) has hurtled from the undervalued region, currently at 42.95. A breakout above the 50-mean level would validate the bullish thesis.
In the meantime, a decisive break above the moving averages would signal renewed bullish strength. The Moving Average Convergence Divergence (MACD) currently sits below the orange signal line, indicating some bearish prospects.
Once the MACD flips above the signal line and toward positive territory, all traders and investors can rally behind XRP. In the meantime, the current uptrend remains intact, but traders should watch for increased volume and momentum confirmation to determine the next price direction.
XRP Price Analysis — Long-Term
While XRP is still far from its recent highs due to macroeconomic pressures, its potential for long-term growth remains as strong as ever.
In fact, it is among the string of major altcoins that experts believe could rise at a steady pace when the bearish market outlook eases in the next few months.
This comes as no surprise, considering its growing institutional adoption, as evident in the rising number of asset managers applying to offer its exchange-traded products.
Most of the filings have already been acknowledged by the SEC, which means it is only a matter of time before the green light is given.
Although the regulator has decided to delay its decision, the odds of approval on Polymarket remain at 75%. Moreover, Bloomberg analysts Eric Balchunas and James Seyffart have hinted at the possibility of the approval happening before the end of 2025.
In the event that the approval happens this year—which is most likely—it could mark the end of the agelong battle between the SEC and Ripple and spark even greater institutional adoption of XRP in the traditional market.
All eyes will also be on the upcoming “strategic crypto reserve” in the United States. XRP, alongside other major cryptos like Bitcoin, Ethereum, Cardano, and Solana will make up the reserve.
Even though critics have argued that the inclusion of altcoins could complicate the initiative, the probability that XRP will be removed from the list is quite slim.
The aforementioned factors along with Ripple’s continuous expansion amid the volatile market outlook have been the reasons most market analysts are predicting a parabolic rally that will turn XRP into a double-figure asset before the end of the year.
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