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XRP has fallen more than 10% over the past week while struggling near $1, pushing its 2026 decline to almost 70%. Even so, several institutions kept exposure through XRP-linked exchange-traded products during the second quarter. Morgan Stanley reported positions across three XRP-linked ETFs in its Q2 2026 Form 13F. The holdings covered funds from Franklin, REX-Osprey and Bitwise.
Its largest position included 6,715 shares of Franklin’s XRP fund. Morgan Stanley also held 255 shares of the REX-Osprey ETF and 67 shares of Bitwise’s fund. The filing also listed a larger position in Armada Acquisition Corp II. Armada serves as the SPAC partner of Ripple-backed Evernorth Holdings.
Several investment firms reported larger XRP product positions than Morgan Stanley during the same reporting period. Wolverine Asset Management held 199,912 shares of the Bitwise XRP ETF. Meanwhile, Gallacher Capital Management reported 86,744 shares of Canary’s XRP ETF. Main Street Group also held 5,261 shares of the same product.
Elsewhere, Moisand Fitzgerald Tamayo held 964 shares of Franklin’s XRP ETF. National Bank of Canada disclosed another 3,848 shares of Bitwise’s XRP fund. Together, the filings show that several investment firms retained exposure to XRP products despite the token’s sharp market decline.
While institutional product exposure remained intact, XRP derivatives presented a weaker market picture. The Taker Buy/Sell Ratio fell to about 0.86, its lowest reading since May. The ratio remained below 1 during most of the recent period. That level indicates sellers acted more aggressively than buyers across the derivatives market.
Short moves above 1 failed to produce a sustained change in momentum. A stronger reading would require buyers to regain control alongside firmer trading volume and price action. At the same time, XRP futures open interest reached 435.1 million units. That figure remained above the 403.6 million 30-day average.
The +1.20σ Z-score also showed elevated leverage across futures positions. Further price weakness could therefore increase the risk of forced liquidations.
Can institutional exposure offset the selling pressure now building across XRP derivatives?
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ChartNerd identified $1.24 as an important level for XRP to reclaim. Recovering that area would improve the price structure tracked by the analyst. If XRP fails to regain $1.24, ChartNerd identified the $0.90 to $0.70 range as a possible accumulation area.
The analyst also expects XRP to retest its three-month 40 EMA. That move could help the token establish a stronger price base. ChartNerd pointed to similar setups during 2023 and 2024. In those periods, three-month 40 EMA retests came before firmer price structures and stronger support.
For now, XRP continues to struggle near $1 after losing almost 70% during 2026. Its derivatives market also continues to show stronger selling pressure and elevated leverage.
Morgan Stanley and several other firms retained XRP ETF exposure during Q2 despite XRP’s steep 2026 decline. Meanwhile, derivatives data showed aggressive selling and elevated leverage. ChartNerd identified $1.24 as a key recovery level, with $0.90 to $0.70 remaining a possible accumulation range.
