Crypto
Bitwise Adds $15.4 Million XRP Amid Declining Price
Bitwise, a leading asset management firm, has continued to record growing demand for its XRP product from institutional investors. Its latest XRP purchase, worth $15.4 million, has sparked discussions in the market as it came when XRP's price was declining.
The recent price breakout had fueled rising demand among both retail and institutional investors, but momentum appears to be fading as the asset has suspended its price rally, returning to red territory.
Latest on-chain data shows that XRP has retreated to the $1.3 price level, showing a price decline of about 2% over the last 24 hours as speculative trading appears to be outweighing its demand.