XRP is trading 2.2% down at $16.60 in pre-market after JPMorgan Chase disclosed the liquidation of its entire position in the Bitwise XRP ETF.
- The bank reallocated capital toward Bitcoin and Solana products, according to May 14 filings, signaling a shift in institutional preference.
- The decline follows a strong 6.93% gain to $16.98 on May 14, with broader risk-off sentiment in equity futures and overnight softness in major cryptocurrencies also weighing on the market.