Morgan Stanley Exposes XRP Holdings Despite Token's Stagnant Price

XRP's price has plummeted over 10% in the past week, with the token struggling to stay above $1. Despite this decline, Morgan Stanley revealed its exposure to XRP through three ETFs in its Q2 filings.

The investment firm disclosed positions in the Franklin XRP fund, REX-Osprey's ETF, and Bitwise's ETF, among others. However, these institutions maintained their exposure to XRP-linked exchange-traded products even as the token's market performance weakened sharply.

ChartNerd identified $1.24 as a crucial level for XRP to reclaim in order to improve its structure. If prices fail to reach this level, the analyst expects a retest of the three-month 40 EMA and potentially an accumulation zone between $0.90-$0.70.