XRP Climbs as National Bank of Canada Discloses Holding
Ripple (XRP) price sets the stage for the next rally, up 1.42% to $1.02, rebounding independently as Bitcoin dipped 0.42%.
The move is primarily driven by a massive speculative buildup in derivatives ahead of today’s U.S. inflation report, with traders betting on a bounce from the critical $1.00 support level.
National Bank of Canada has quietly become the latest traditional lender to show up in crypto’s institutional ledger, disclosing positions in both an XRP ETF and several Bitcoin ETFs through a regulatory filing with the U.S. Securities and Exchange Commission.
The National Bank Canada crypto ETF disclosure, made public in a Form 13F filing covering holdings as of June 30, 2026, gives a rare glimpse into how a major Canadian financial institution is approaching digital assets — not through direct token ownership, but through regulated investment wrappers listed on U.S. exchanges.
The breakdown showed that that bank is holding 3,848 shares in the Bitwise $XRP ETF (about $330,000), 42,321 shares in the ProShares Bitcoin ETF (about $5.31 million), 55,644 shares of the Fidelity Wise Origin Bitcoin Fund (about $1.09 million), 6,831 shares of the Grayscale Bitcoin Trust ETF (around $150,000), and 2,596 shares of the Grayscale Bitcoin Mini Trust ETF (about $100,000).
The filing puts the combined disclosed $XRP and Bitcoin ETF holdings at approximately $6.98 million. The disclosure follows Grayscale’s report that it sold $180.78 million worth of $XRP in the first half of 2026—about 103.41 million $XRP to meet redemptions—and recorded over $34 million of realised losses on those sales.
Crypto analysts predicted the XRP rally would be sustained as data showed extreme derivatives positioning: open interest surged $171 million in one hour, and funding rates spiked over 200%, as traders placed bets ahead of the pivotal CPI data release.
A sudden $171.74 million influx into XRP futures open interest occurred within one hour on August 11, as reported by U.Today.
Concurrently, funding rates—fees paid by perpetual contract holders—spiked over 200% to 0.03059%, indicating a strong bullish bias among derivatives traders.
This aggressive positioning is directly tied to anticipation of the U.S. Consumer Price Index (CPI) report due August 12, a key trigger for broader market volatility.
Traders are making leveraged bets on XRP’s direction before a major macroeconomic event, amplifying short-term price moves.
The CPI print today. A cooler-than-expected reading could fuel bullish momentum, while a hot print may trigger rapid long liquidations.
XRP’s price tested and held the crucial $1.00 level, a major psychological and technical support it hadn’t breached since November 2024.
The bounce was accompanied by a 17.36% rise in 24-hour trading volume to $1.38 billion, confirming buyer interest at that level.
The 7-day RSI reading of 35.71 indicates the asset was in oversold territory, priming it for a rebound. The market defended a critical price floor, leading to a short-term recovery driven by spot buying and covering of oversold conditions.
Investors are now watching whether the price can sustain above the $1.03 level (near the 78.6% Fibonacci retracement). Failure here could see a retest of $1.00.
The immediate trajectory is binary, set by today’s CPI data. This report will influence Federal Reserve rate expectations, a primary driver for crypto liquidity.
If XRP holds the $1.00–$1.03 support zone and the CPI data is benign, the next major resistance is at $1.06. A decisive break above could trigger a short squeeze, targeting the $1.35 Fibonacci extension level.
The risk case is a break below $1.00, which would invalidate the bullish defense and likely push the price toward the next support near $0.95. The market is at an inflexion point, with high volatility expected following the macro data release.
The $1.06 resistance level post-CPI. A rejection here would suggest the bounce is fading. XRP’s gain stems from a high-stakes derivatives bet on a macro-driven rebound from a historic support level. The outcome now rests on inflation data. Money Market Rates Mixed on 36% Banking System Liquidity Surge
