Connect with us
DAPA Banner

Crypto World

Ripple-linked token holds $1.34 as supply tightens

Published

on

Ripple-linked token holds $1.34 as supply tightens

XRP is seeing large amounts of tokens leave exchanges, reducing available supply — but price isn’t responding yet. The token is hovering near $1.34 after a modest gain, creating a disconnect between tightening supply and muted price action that typically doesn’t last.

News Background

  • XRP edged higher to $1.34 with volume rising 29% above its weekly average
  • Around 7.03 billion XRP left exchanges in February, signaling supply compression
  • Binance scarcity indicator climbed to 0.59, its highest level since 2024

Price Action Summary

  • Price traded in a tight range, repeatedly testing the $1.33-$1.34 zone
  • Early breakout attempts failed, with resistance forming just above current levels
  • Buyers defended dips near $1.31, establishing a sequence of higher lows
  • Late-session action showed steady buying, but no decisive follow-through

Technical Analysis

  • The key setup is a mismatch: supply is tightening, but price isn’t expanding
  • Large outflows usually reduce sell pressure, yet sellers are still capping rallies
  • Elevated volume without price expansion points to positioning rather than conviction
  • This kind of compression typically resolves with a sharper directional move

What traders should watch

  • $1.34-$1.35 is the immediate trigger — a break opens room toward $1.42
  • $1.31-$1.32 remains the key support zone holding structure intact
  • If price continues to stall despite shrinking supply, it suggests sellers are still active overhead

Source link

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Franklin Templeton Expands Crypto Arm With CoinFund Deal

Published

on

Franklin Templeton Expands Crypto Arm With CoinFund Deal

Global asset manager Franklin Templeton is set to expand its crypto footprint by acquiring a spinoff of the crypto-native investment firm CoinFund.

Franklin Templeton said Wednesday it plans to acquire 250 Digital, a CoinFund spinoff that runs liquid crypto investment strategies, expanding the asset manager’s digital asset business. The deal will form part of a new unit called Franklin Crypto once it closes.

The move follows CoinFund’s decision earlier this year to spin out its liquid strategies business into 250 Digital as the company sharpened its focus on venture investing.

Christopher Perkins will lead the new Franklin Crypto, and Seth Ginns will serve as chief investment officer alongside Franklin Templeton digital assets veteran Tony Pecore, as the company broadens its crypto investment platform for institutional clients.

Advertisement

The deal will incorporate BENJI tokens, which represent ownership shares in the Franklin OnChain US Government Money Fund (FOBXX), a regulated money market fund tokenized by Franklin Templeton in 2021.

Acquisition involves all liquid strategies previously run by CoinFund

Franklin said the undisclosed transaction includes the 250 Digital investment team and all liquid cryptocurrency strategies previously run by CoinFund, and that it will also invest in those strategies as part of the agreement.

The transaction is expected to close in the second quarter of 2026, subject to the execution of definitive transaction agreements, client consents and other customary closing conditions.

Source: Franklin Templeton Digital Assets

Franklin Templeton’s digital asset arm manages around $1.8 billion in assets and is a major institutional player in the crypto industry, where it has been building a presence since 2018.

The company is known for being one of the first to launch a US-listed spot Bitcoin ETF alongside other major asset managers such as BlackRock in 2024.

Advertisement

Related: Franklin Templeton, Ondo to launch tokenized ETFs with 24/7 trading via crypto wallets

The acquisition comes during a prolonged slump in the crypto market, with Bitcoin down around 45% from its peak above $126,000 recorded in October 2025.

However, Franklin Templeton says the environment is attracting talent and creating opportunities to build long-term infrastructure.

Franklin’s head of innovation, Sandy Kaul, told The Wall Street Journal the recent market selloff helped create an opening to expand.

Advertisement

“This big selloff that we had in the crypto markets is creating a very unique opportunity that really made us all decide that this is the right time to pull the trigger,” Kaul said.

Magazine: A newbie’s guide to surviving crypto winter