Morgan Stanley disclosed XRP-related positions in its Q2 2026 Form 13F filing with the U.S. Securities and Exchange Commission, reporting holdings in the Franklin XRP ETF, REX-Osprey XRP ETF and Bitwise XRP ETF, alongside a larger stake in Armada Acquisition Corp II, the SPAC partner of Ripple-backed Evernorth Holdings. The filing adds to a broader pattern of institutional investors using exchange-traded products to gain XRP exposure even as the token remains under pressure. The latest report says Morgan Stanley held 6,715 shares of the Franklin fund, 255 shares of the REX-Osprey ETF and 67 shares of Bitwise’s ETF. Other firms cited with XRP ETF exposure include Wolverine Asset Management, Gallacher Capital Management, Main Street Group, Moisand Fitzgerald Tamayo and National Bank of Canada. These filings reflect positions in listed fund shares rather than direct custody of XRP itself. XRP has shed more than 10% over the past week as it struggles near $1, pushing its losses for the year to almost 70%, according to the report. Derivatives data cited in the report points to persistent selling pressure, with the Taker Buy/Sell Ratio around 0.86, below 1 for most of the recent period, suggesting sellers have been more aggressive than buyers. Futures open interest was also described as elevated at 435.1 million units versus a 30-day average of 403.6 million, a setup the report said could leave XRP vulnerable to a liquidation cascade if prices fall further. The report also outlined possible technical levels to watch. ChartNerd identified $1.24 as a key level for XRP to reclaim, while pointing to the $0.90-$0.70 range as a possible accumulation zone if weakness persists. The analyst also expects a retest of the 3-month 40 EMA as part of a potential basing process similar to setups seen in 2023 and 2024.