Schwab's XRP Exposure Reaches $4.8M as Price Drops 5%

Charles Schwab's Prime Advantage Money Fund has disclosed nearly $4.8 million in XRP ETF shares used as collateral, indicating growing institutional adoption of XRP-linked products.

The figure is part of a Form N-MFP3 filing that details the fund's holdings and reveals its significant exposure to the cryptocurrency market through these XRP ETFs.

This development comes at a time when XRP is facing a downturn, with prices dropping 5% to around $1.36.

The fact that institutional players like Charles Schwab are increasing their involvement in the XRP ecosystem may provide some support for the cryptocurrency's price, but it remains to be seen whether this will have a lasting impact on its trajectory.