Whales and Institutions Flock to XRP as Price Bounces Off $1

Ripple's price dipped below $1 last week, but it was short-lived. Whales and institutional investors took advantage of the discount, buying up a significant amount of XRP tokens.

According to data from SoSoValue, Bitwise $XRP ETF accounted for all $2.25 million in daily net inflow, with a cumulative net inflow of $512 million. Franklin's $XRP ETF also saw significant inflows, while 21Shares $XRP ETF had net outflows of $20 million.

Morgan Stanley revealed its $1 million XRP exposure through $XRP ETF positions issued by Franklin, Bitwise, and Rex-Osprey, according to the company's recent 13F filing with the SEC.