Axelar-Ripple Partnership Enhances XRP Ledger, Fuels Axelar ETF Application, XRP Price Watch

• Canary Capital filed an S-1 registration for a spot Axelar (AXL) ETF with the SEC.
• Axelar announced partnership with Ripple to enhance XRPL’s interoperability in February.
• AXL token shot up 14% post the ETF filing while XRP was up 1.31% in 24 hours.

Back in late February, blockchain interoperability protocol Axelar (AXL) announced a partnership with American fintech firm Ripple to improve the interoperability of the XRP Ledger (XRPL), creating seamless connectivity with numerous blockchain networks. 

Axelar’s integration will further amplify XRPL’s use cases, unlocking cross-chain applications and potentially boosting XRP adoption among developers and enterprises.

The collaboration places XRPL in a broader multi-chain environment, which could attract liquidity and stimulate demand for XRP as it becomes more functional beyond its traditional remittance use case.

Axelar ETF Application Filed

Notably, adding to the upbeat sentiment around Axelar, Canary Capital filed an S-1 registration with the United States Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tracking the Axelar (AXL) token. 

The ETF would offer ex…

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