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Crypto

Bitwise Unloads XRP Holdings Amid Cryptocurrency Volatility

Guavy AI Editorial Team
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XRP
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Bitwise, a prominent crypto investment firm and one of XRP's largest ETF issuers, has unexpectedly sold off a portion of its XRP holdings worth approximately $3.58 million.

The sale occurred on Thursday, August 6, amidst a prolonged period of volatility for XRP, which has seen its price retest levels not seen in weeks.

XRP's price has been trading at around $1.04, and commentators believe that the consistent slowdown in its value is causing fear among both small and large holders, leading to caution from institutional investors.

Market participants view this move as unusual for Bitwise, which has consistently purchased XRP since launching its ETFs late last year.

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