Franklin Templeton issued about $150 million in tokenized money market fund shares on the XRP Ledger, nearly quadrupling its presence on the network within 48 hours. Despite this institutional adoption, XRP's price fell about 3% to $1.28, reflecting broader market trends rather than direct token demand from the fund. The fund's shares are held in a single wallet, indicating institutional settlement use rather than retail buying. This move highlights growing institutional trust in XRP Ledger's capabilities, even as short-term price movements remain tied to overall crypto market conditions.
XRP's market cap stands at Rp1.460,01 trillion with a 24-hour trading volume of Rp27,97 trillion on Pluang as of Oct 24, 2026 20:01 WIB. Despite Franklin Templeton's $150 million issuance on the XRP Ledger, XRP is down 2.52% on Pluang, slightly less than the 3% drop noted in the article. Pluang data shows a strong sell sentiment with 77% of order activity being sell orders and a typical hold time of 72 days, indicating cautious investor behavior amid institutional developments.
David Schwartz, Ripple's former CTO, stated that the XRP Ledger (XRPL) is unlikely to achieve major success in financial applications as long as its native asset, XRP, lacks strong demand and value. He explained that XRP is essential for operating th...
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