Bitwise, a leading crypto investment firm and one of the largest XRP ETF issuers, sold approximately $3.58 million worth of XRP on August 6, an unusual move for a company that had been consistently buying XRP since the ETFs launched late last year. This sale comes as XRP continues to decline, retesting levels not seen in weeks around $1.04. Market observers believe the prolonged price drop is generating fear among holders, prompting institutional investors to trade more cautiously. However, market participants think this move could be temporary and would not necessarily reflect Bitwise’s bearish outlook on XRP.
Source: Read the original article
