$1.1 Trillion Bank Buys XRP: Is The Bottom Really In?

One of the largest European Union banks just made a spectacular move that came as a surprise to many. Banca Intesa Sanpaolo, a multinational banking giant originating from Italy, just updated their books with a huge increase in their digital assets portfolio.

Going from roughly $100 million in crypto assets in the last quarter of 2025 to $235 million now, Intesa Sanpaolo confirmed their long-term belief in the sector’s growth. What’s more surprising - this time it’s not just Bitcoin (BTC) & Ethereum (ETH).

Following the funds, DailyCoin’s research team indicated at least $18 million were spent to buy Ripple’s XRP.

With the bear market still prevalent, this kind of move defies the broader ‘risk-off’ sentiment: the top Italian bank opened a fresh position with XRP exposure via the Grayscale XRP Trust. They currently hold beyond 712K shares in this XRP-powered exchange-traded fund (ETF). Also, it seems XRP is Intesa Sanpaolo’s substitute for Solana (SOL).

According to the balance sheet, Intesa Sanpaolo massively reduced their position in the Bitwise Solana Staking ETF, rotating most of those funds to Ripple’s XRP coin. With the OG altcoin now bouncing back 11.60% from the cycle low of $1, Italy’s most established bank may have picked up some XRP almost at the local bottom. Does this mean retail will follow in their footsteps?

The general market’s Fear & Greed Index now points to a period of relief, but most crypto investors are still fearful. The sentiment meter flipped from ‘extreme fear’ at 15 last week to 27 now, hinting at some confidence being restored. Regardless, trading at $1.13, XRP is currently the only one aside from BNB Coin (BNB) with a negative return rate over a 30-day period.

Down 69% from the previous all-time high (ATH) of $3.65, Ripple’s native crypto currency has established confluent resistance at $1.50, a price range unseen since mid-May. The same price range served as a local top in near-term rebounds consecutively in February, March & April, 2026. Now, traders are peeling their eyes on the $1.11 support level for near-term direction.

In case the green-label Bollinger Band (BOLL) breaks to the downward side, there’s major XRP support at the $1 price level. In a more bearish scenario recently described by Ali Martinez, XRP could briefly revisit the $0.90 demand zone, where the renowned tech charterer sees numerous attractive entry points based on the Tom DeMark formula, popularly known as TD Sequential.

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