UToday • October 7th 2026, 11:54 AM
Bitwise Makes Biggest XRP Purchase in October
Key Summary
Institutional investors have shown renewed interest in XRP, with Bitwise making its largest purchase since October, worth $10.55 million. The move comes after fresh capital entered the XRP ETF market, contrary to withdrawals from major funds. This divergence in market sentiment raises questions about XRP's future price potential.
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Market Update
Bitwise has expanded its XRP exposure again as institutional investors appear to have shown renewed interest during the last ETF trading session.Key Developments
The recent market data shows that Bitwise has bought more XRP than it has done so far this month, even though the market is currently volatile. Although XRP has failed to sustain the uptrend seen during the weekend, institutional investors remain convinced about its future price potential.Institutional Investment
As such, they have continued to expand their XRP exposure through Bitwise, as data shows that Bitwise has bought over $10.55 million worth of XRP. The purchase came after Bitwise attracted fresh capital into the XRP ETF market, representing the sole capital contributor among all XRP ETFs, as major funds like Franklin Templeton and Canary Capital only recorded withdrawals for the day.Market Reaction
The move represents the largest XRP purchase Bitwise has made since October began, as it had only recorded little to no inflows in the past few days. While the size of the recent XRP purchase from Bitwise is not entirely significant, the timing of the transaction has made it most noticeable, as it suggests that investors may be buying XRP's dip.Price Impact
Despite trading above $1.50 earlier this week, XRP has suddenly reversed to a deeper price level in the last day, dropping to around $1.43 earlier today. The subtle XRP ETF demand through Bitwise marks a major divergence from its current price movement, sparking curiosity about XRP's price potential for the rest of the month.Disclaimer
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.Read More
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