XRP Holds Position as Bank of Montreal Discloses Interest
XRP hovered at $1 after a modest price increase following Bank of Montreal in Canada’s expression of interest in the token, boosting optimism.
Traders maintained that XRP has been oversold, and the next price move is expected to be fast and furious, anchored by robust buyer conviction.
The token price movement has been limited due to negative sentiment in the broader market, with market capitalisation of all crypto standing below $2.18 trillion on Saturday.
Top cryptocurrency prices were declining at press time, with Bitcoin hovering at $64k, Ethereum struggling at $1,881, Binance Coin trading at $610, and XRP wobbling around $1.
XRP’s news cycle is a tug-of-war between institutional adoption and a stubborn price, with a key regulatory event on the horizon. The token lost allure in the market due to a sustained Clarity Act delay, which is expected to classify XRP as a commodity
The Bank of Montreal (BMO), Canada’s oldest bank, founded in 1817, disclosed cryptocurrency holdings in a U.S. SEC filing.
While its direct XRP exposure via ETFs is modest ($2,970 total), the filing represents a significant step toward the asset’s normalisation in traditional finance. This follows a similar disclosure by the National Bank of Canada. This is a neutral-to-bullish signal for XRP.
It demonstrates that major, regulated financial institutions are formally acknowledging and gaining exposure to XRP, which could pave the way for broader adoption. However, the currently small dollar amount highlights this as an early, exploratory step rather than a major capital allocation.
The market anticipates price recovery after XRP failed to fall deeply below $1 for long, and signals that institutional investors would start to increase positions via exchange-traded funds (ETFs)/
Yesterday, only the Bitwise $XRP ETF ($XRP) experienced net inflows, with a single-day net inflow of $2.2531 million, bringing its cumulative historical net inflow to $512 million.
As of the time of this report, the total asset value of $XRP spot ETFs stands at $942 million, with an $XRP net asset ratio of 1.49%, and the cumulative historical net inflow has reached $1.513 billion.
