Bitwise Sparks XRP Sell-Off Fears With Surprise $3.58 Million Sale
TL;DR:
- Bitwise recorded a $3.58 million reduction in its XRP holdings this Thursday, August 6, 2026.
- The XRP token is trading around $1.04 after pulling back to support levels not seen in weeks.
- The investment firm had maintained a consistent accumulation trajectory for XRP since launching its exchange-traded funds late last year.
Following confirmation this Thursday of an XRP sale worth approximately $3.58 million, investment firm Bitwise made an unusual move in the market. The transaction occurred amid a session with widespread downward pressure for the digital asset.
JUST IN: Bitwise clients sell $3.58 million worth of $XRP. pic.twitter.com/rJDXblN8Tl
- Whale Insider (@WhaleInsider) August 6, 2026
On-chain data verified during Thursday’s trading session shows that Bitwise reduced a fraction of its XRP portfolio following a negative trading session across financial markets. This divestment represents a shift from the pattern of continuous purchases the asset manager had steadily maintained since the approval and launch of its exchange-traded funds late last year.
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