Franklin Expands XRP Position to 225 Million, Cardano Sets Upgrade Plan Until 2027
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Franklin has expanded its XRP position to 225.37 million XRP in the second quarter, an increase of 65.71 million XRP compared to three months earlier. The cost basis amounts to $410.97 million, with a fair value of $236.48 million as of June 30, indicating an average purchase price of $1.82 per XRP. This expansion occurred while the XRP price was declining, suggesting a long-term investment strategy. Franklin's product remains smaller than many established investment products, with 20.75 million shares outstanding.
Cardano has established a technical development plan until 2027, consisting of two phases. Phase 1, focused on Ouroboros Linear Leios, is expected to be completed by the end of 2026, while phase 2, featuring Ouroboros Peras, is scheduled for the second quarter of 2027. The upgrade includes enhancements such as additional Endorser Blocks for higher throughput and simplified staking rewards. The throughput of Linear Leios is expected to be 30 to 50 times higher than it is now.
The XRP price is around $1, with institutional purchases being the main driver. The ADA price is around $0.18, without similar institutional buyers, focusing instead on the planned upgrades. Expectations for XRP point to a recovery to $1.60 in 2027, while the larger movement for ADA is anticipated around the delivery of phase 1 at the end of 2026.
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