Crypto
Grayscale CEO Sells GXRP Amid XRP's Yearly Downtrend Resistance
Grayscale's CEO Peter Mintzberg has filed to sell 2,611 GXRP shares at $20.45 as the trust's total float dropped 51% in six months due to redemptions.
This comes as XRP trades at $1.0796 on July 30, up 0.5%, but still pressing against the yearly downtrend resistance at the apex of the descending wedge.
The CLARITY Act vote looms before the August 8 recess, adding to reduced leverage and regulatory risk that weigh on XRP's price and adoption in the broader DeFi/CEX market.