Charles Schwab Holds $4.8M in XRP ETF Shares as Price Slips

Financial giant Charles Schwab has disclosed a position worth nearly 4.8 million dollars in XRP ETF shares. According to a recent regulatory filing, the firm is using these shares as collateral within its Prime Advantage Money Fund. This move highlights a clear interest from traditional finance firms in products tied to the XRP token.

Despite the institutional validation suggested by this filing, the market reaction has been cold. The price of XRP dropped by 5 percent shortly after the news broke. It is now trading near the 1.36 dollar mark as investors weigh the balance between long term institutional adoption and current selling pressure.

Traders are watching to see if this support from a major firm like Schwab can help stabilize the price. While institutional backing usually signals confidence, the current market trend shows that traders are still focused on short term price action. Keep an eye on the 1.30 dollar support level to see if buyers step in to hold the line.