XRP News Today: Franklin ETF Launch Fuels Hopes of BTC Decoupling

XRP reclaimed the $2.0 handle as traders shifted focus from BTC-spot ETF outflows to XRP-spot ETFs. Crucially, the token snapped a four-day losing streak, rising for just the second time in thirteen sessions.

Rising bets on a December Fed rate cut revived demand for risk assets such as XRP and Bitcoin (BTC). The US government shutdown, previously fading bets on a December rate cut, US-China trade headlines, and reports of the MSCI’s consultation paper had sent BTC to a November 21 low of $80,523.

Until now, Bitcoin has dictated broader crypto market trends. However, the potential fallout from the MSCI’s decision on digital asset treasury (DATs) firms could unravel XRP’s correlation to BTC.

Franklin XRP ETF Takes Center Stage

While traders consider the potential delisting of DATs from key indices, last week’s XRP-spot ETF inflows signaled robust institutional demand. Canary XRP ETF (XRPC) and Bitwise XRP ETF (XRP) reported net inflows of $179.6 million in the reporting week ending November 21. XRP-spot ETFs reported net inflows despite BTC-spot ETFs seeing $1.22 billion in net outflows, also suggesting a potential XRP-BTC decoupling.

On Monday, November 24, XRP could get a significant boost, with Franklin Templeton and Grayscale launching XRP-spot ETFs. Franklin XRP ETF’s (XRPZ) flows and trading volumes are likely to draw considerable interest.

This places XRP at a pivotal juncture. Analysts expect XRPZ to lead the XRP-spot ETF market, given that Franklin Templeton ranked #19 on the ETF issuer Assets Under Management (AUM) league table, with $44.7 billion in AUM. For context, Bitwise Asset Management and Canary Capital ranked #56 and #231, respectively, with ETF AUMs of $5.58 billion and $84.82 million.

Traders will watch closely. The token could extend Sunday’s gains if Franklin XRP ETF outperforms Bitwise XRP ETF in trading volume and inflows.

Bitcoin Decoupling Debates Intensify

XRP has faced heavy selling pressure throughout the fourth quarter, as BTC spot ETF issuers experienced significant outflows, driving BTC to a seven-month low. However, rising XRP utilitisation and the launch of XRP-spot ETFs have fueled speculation about leaving Bitcoin’s shadow.

Crypto commentator Stern Drew, with over 9,000 followers on X (formerly Twitter), stated:

“The Bitcoin—XRP decoupling begins when utility volume dwarfs speculative volume. Right now, Bitcoin’s volume is ~85–90% speculative. But XRP’s institutional payment corridors have been growing. When utility volume surpasses speculative volume, XRP becomes immune to BTC’s mood swings.”

Furthermore, utilization could accelerate after the introduction of crypto-friendly legislation. This may further legitimize the token, following the resolution of the SEC vs. Ripple case.

Technical Outlook: Key XRP Price Levels

XRP rallied 5.1% on Sunday, November 23, reversing the previous day’s 0.04% loss, closing at $2.0496. The token outperformed the broader market, which gained 2.1%.

Despite Sunday’s recovery, the token remained well below the 50-day and 200-day Exponential Moving Averages (EMAs), indicating a bearish bias.

Looking ahead, several key events are likely to influence the token’s price trajectory.

Key technical levels to watch include:

• Support levels: $2, $1.9112, and $1.8205
• 50-day EMA resistance: $2.3839.
• 200-day EMA resistance: $2.5293.
• Resistance levels: $2.2, $2.35, $2.5, $2.62, $2.8, $3.0, and $3.66.

Catalysts to Watch in the Sessions Ahead

Near-term price events include:

• Spot ETF daily trading volumes and inflows.
• Blue-chip companies’ views on XRP as a treasury reserve asset.
• Regulatory milestones: Ripple’s application for a US-chartered bank license, the progress of the Market Structure Bill on Capitol Hill.

Bearish Scenario: Risks Below $2.0

• Spot ETFs report net outflows.
• The US Senate roadblocks crypto-friendly legislation, including the Market Structure Bill.
• Blue-chip companies downplay interest in XRP as a treasury reserve asset.
• OCC delays or rejects Ripple’s US-chartered bank license.

These bearish scenarios could push the token toward $2.0. A break below $2.0 would bring the lower trendline and the $1.9112 support level into play. If breached, the November 21 low of $1.8205 would be the next key support level. Notably, Sunday’s gains ended a run of lower highs and lower lows. A reversal would reaffirm the bearish structure.

Bullish Scenario: Path to $2.5 Eases

• XRP-spot ETFs see strong inflows.
• Blue-chip companies purchase XRP for treasury reserve purposes.
• Ripple secures a US-chartered bank license, and the US Senate passes the Market Structure Bill.

A breakout above the November 23 high of $2.0842 could pave the way toward the $2.2 resistance level. A sustained move through $2.2 may enable the bulls to target the $2.35 resistance level and the 50-day EMA, with $2.5 the next key resistance level.

Outlook: $2.0 Remains Critical Support

Weekly XRP-spot ETF inflows have fueled optimism over Franklin XRP ETF’s launch on Monday, November 24. Analysts have high expectations, given Franklin Templeton’s prominence in the ETF space. Strong demand could ignite the next bull run.

Meanwhile, traders should continue monitoring the Market Structure Bill’s progress on Capitol Hill. XRP remains highly sensitive to legislative developments. The passing of crypto-friendly legislation would be another price catalyst. On July 17, the token soared 14.69% after the House passed the Market Structure Bill to the Senate.

The next several sessions could determine whether the token can decouple from BTC and reclaim $2.5.