XRP has shed more than 10% in the past week, pushing its yearly decline to nearly 70%, even as a regulatory filing revealed that Morgan Stanley holds positions in three XRP-linked exchange-traded funds. The disclosure lands as futures data points to heavy leverage and sellers dominate the spot market.
What the 13F filing shows
Morgan Stanley's second-quarter 2026 13F filing, made public this week, shows the bank holds shares in Franklin, REX-Osprey, and Bitwise XRP ETFs. Its largest position is 6,715 shares in the Franklin fund, along with 255 shares of REX-Osprey and 67 shares of Bitwise. The filing also lists a larger stake in Armada Acquisition Corp II, the SPAC partner of Ripple-backed Evernorth Holdings.
The positions are modest compared to some other institutional names. Wolverine Asset Management holds 199,912 shares of the Bitwise XRP ETF, while Gallacher Capital Management owns 86,744 shares of the Canary fund. Main Street Group holds 5,261 shares of Canary, Moisand Fitzgerald Tamayo has 964 shares of Franklin, and National Bank of Canada holds 3,848 shares of Bitwise.
Why the price keeps sliding
The Taker Buy/Sell Ratio for XRP sits around 0.86, the lowest since last May. A reading below 1 means sellers are executing more aggressively than buyers. That's consistent with the recent price action, which has erased more than a tenth of the token's value in seven days.
Futures open interest is also elevated. It stands at 435.1 million units versus a 30-day average of 403.6 million, with a Z-score of +1.20σ. That suggests leverage has piled up, and if the price drops further, a liquidation cascade could accelerate the slide.
A level that could decide the next move
Analyst ChartNerd has flagged $1.24 as a key level for XRP to reclaim. If that fails, the $0.90-$0.70 range could become an accumulation area. ChartNerd also expects a retest of the three-month 40 EMA to help XRP form a stronger base, similar to setups seen in 2023 and 2024.
For now, the market is watching whether buyers step in at these levels. If they don't, the leveraged positions that built up over the past month could force a sharper correction. The next test is whether XRP can hold above $1.24; otherwise, the lower range may be where the token finds its footing.
