Grayscale Unloads $180 Million XRP Amid Price Downturn

The Grayscale XRP Trust ETF has revealed that it sold over $180 million worth of Ripple's XRP, according to its latest regulatory filing. This move comes as a result of the significant downturn in XRP's price, which has led to a massive depreciation in the net asset value of the ETF.

Furthermore, the Grayscale XRP Trust ETF reported that it incurred over $34 million in realized losses from the sale of XRP.

The filing also highlights the volatile nature of the cryptocurrency market, where prices can fluctuate rapidly and significantly impact investment portfolios.