Grayscale disclosed that CEO Peter Mintzberg plans to sell 2,611 units of the company's XRP ETF. The transaction will be conducted through NYSE Arca and acquired by Cantor Fitzgerald. At the time of the announcement, XRP was trading around $1.09.
GXRP's market share continues to decline.
The situation for Grayscale's XRP ETF is also changing. SosoValue data shows that the US spot XRP ETF market size has exceeded $971 million, but Grayscale currently only accounts for about 6%. In contrast, the overall market is still expanding, with cumulative net inflows exceeding $1.5 billion.
This is not the first time that internal share reduction has occurred.
This is not the first time Grayscale insiders have reduced their holdings of GXRP. In January 2026, Barry Silbert, founder of Digital Currency Group, and Craig Salm, Grayscale's chief legal officer, also filed a notice to sell pre-IPO GXRP shares. At that time, the ETF was trading at close to $37.
XRP is still subject to short-term fluctuations.
Despite the news of share reduction, XRP rose 2.57% in the past 24 hours, reaching around $1.09. Technically, it remains below its 30-day and 200-day moving averages, with the RSI nearing 40 and the MACD close to a death cross. If the daily close is above $1.12, a short-term recovery may continue; otherwise, ETF redemption pressure and weak momentum may continue to suppress the price.
