Analysis of Goldman Sachs '$152 million XRPETF position did not boost prices, but currency prices were still under pressure or dropped by 50%

Although Goldman Sachs disclosed that it holds approximately US$152 million in spot XRPETF positions, becoming the largest institutional investor in the field, XRP's recent performance remains weak. According to disclosures, Goldman Sachs currently holds four XRPETF products, including BitwiseXRPETF (approximately US$39.8 million), FranklinXRPTrust (approximately US$38.5 million), Grayscale XRPETF (approximately US$38 million) and 21SharesXRPETF (approximately US$35.9 million), accounting for approximately 73% of the total positions held by the top 30 institutional investors. However, market sentiment is still cautious. On the technical side, XRP has formed a bearish flag-shaped underbreak pattern, which means a potential downside of about 50%. The analysis believes that although institutional allocation reflects long-term confidence, XRP still faces greater adjustment risks in the short term under the background of macro pressure and weakening capital flows.