XRP price rallied today due to Franklin Templeton’s filing for an XRP ETF, paired with onchain metrics suggesting that the altcoin may have hit a bottom. The price increased by 6% over the last 24 hours, trading at $2.24 and 18% above its 24-hour low of $1.89. The filing, which is the 17th of its kind and includes a major asset manager with $1.5 trillion in assets, has sparked capital inflow speculation that could drive XRP's price higher. Additionally, onchain data shows that the Market Value to Realized Value (MVRV) ratio for XRP is at a low of -16%, indicating a historical trend where XRP reverses when the MVRV drops below 10%. Meanwhile, XRP is showing a V-shaped recovery on the four-hour chart, and if it breaks through a key price congestion zone, it could rise to $2.64, indicating a potential 20% gain from the current price. Investors are advised to conduct their own research before making investment decisions.

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