Why Is XRP Down Today? XRP Slides 2.9% Despite Franklin Templeton’s $150M XRP Ledger Deposit

XRP is down 2.9% over the past 24 hours, trading near $1.28, even after Franklin Templeton added roughly $150 million of its tokenized money market fund to the XRP Ledger this week. The reason is structural: the fund shares, called sgBENJI, are paired with Ripple’s RLUSD stablecoin rather than XRP, so the deposit creates almost no direct buying pressure on the token. XRP only pays transaction fees and an account reserve — costs small enough that moving $150 million burns about as much XRP as moving a single dollar.