Yes, it recovered a bit but for me that will be the situation for the next couple of months until everything settles down.
What if this situation never settles down? what if SEC won against XRP? this means it's the end of XRP as a currency (as what they told us) and it's pretty obvious what's next, every crypto exchange would delist them and the price will surely pump and never recover.
That's the next thing for XRP. They will get a huge delisting in the entire history because of this situation. There is also a tendency that it won't no longer recover.
And this decision by bitwise is for them a better thing to do. They can make it or break it with XRP as an investment because of this. The said recovery is there but you can also see that recovery has been gone quick.