Grayscale Sells $180M in XRP Amid Soft Demand
Grayscale's XRP Trust has been forced to sell over $180 million worth of XRP in the first half of 2026 to meet investor withdrawals. The trust sold around 103 million XRP tokens, locking in about $34 million in realized losses and leaving additional unrealized losses on the remaining holdings.
The sales were not discretionary but rather mechanical due to the structure of the trusts, which means authorized participants handle creations and redemptions. This highlights the impact of soft demand across XRP products, with other XRP funds also seeing outflows and derivatives positioning quieting down.
XRP itself has been trading in a narrow range of $1.05, $1.07, with traders watching the $1 level closely for signs of either a bounce or a breakdown. The situation underscores how demand fades can force actual spot selling into the global crypto market, amplifying the downside in thinner or more sentiment-driven assets.