Grayscale's XRP Trust sold 103.41 million XRP worth $180.78 million during the first half of 2026, cutting its holdings from 122.23 million tokens at the end of 2025 to 55.04 million by June 30. The sales, driven by share redemptions and the sponsor's fee, came as XRP's price fell more than 40% from $1.84 on Jan. 1 to $1.05 on June 30.
Redemptions and share buybacks
The trust's outstanding shares dropped from 6.30 million at the end of 2025 to 2.84 million by June 30. It bought back 5.33 million shares and sold 1.87 million during the period. Authorized participants handle the creation and redemption of shares, and the trust recorded a $34.16 million realized loss on XRP sold for redemptions. It also booked a $17.47 million unrealized loss on its remaining XRP position.
Grayscale created an additional 36.27 million XRP valued at $66.58 million during the six months, but that didn't offset the redemptions. A separate $39,000 realized loss came from XRP sold to cover expenses. The reduction in XRP holdings per share is tied to periodic withdrawals used to meet the sponsor's fee.
Price pressure and ETF flows
XRP trades at $1.02, close to losing key support at $1, after a -0.2% drop overnight. Daily trading volume sits at $732 million, up from $670 million the previous day. Weekly inflows into XRP exchange-traded funds fell to about $1 million from $14.9 million the prior week, though daily flows rebounded to roughly $3.5 million on Aug. 6.
XRP is down about 10% over the past month and 5.5% over the seven days through Friday. On Aug. 7, it traded between $1.015 and $1.041, near the bottom of its 52-week range of $1.0095 to $3.3818. The trust's holdings value dropped from $223.36 million at the end of 2025 to $57.41 million on June 30.
Regulatory and supply factors
The US Senate delayed consideration of the CLARITY Act until at least September, leaving the regulatory path for XRP unclear. Ripple released 1 billion XRP from escrow on Aug. 1 as part of its scheduled monthly unlock, though it has historically returned a substantial portion of those releases to escrow rather than putting all tokens into circulation.
XRP ETF net inflows total $1.42 billion since they went live in November 2024. The trust's next filing will show whether redemptions continue to pressure holdings, and traders are watching whether XRP can hold the $1 support level.
