XRP Price Prediction August 2026: Can XRP Break the Yearly Downtrend as Grayscale’s CEO Sells GXRP?
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In crypto markets, Grayscale CEO Peter Mintzberg filed to sell 2,611 GXRP shares at $20.45 as the trust’s float dropped 51% over six months via redemptions, and XRP traded at $1.0796 on July 30, up 0.5% while pressing yearly downtrend resistance at the descending wedge apex. XRP open interest on Binance fell to $369.6M, the lowest since 2024, and with August historically posting a -6.57% median return and the CLARITY Act vote looming before the August 8 recess, reduced leverage and regulatory risk weigh on token price, adoption and broader DeFi/CEX market sentiment.
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- Grayscale CEO Peter Mintzberg filed to sell 2,611 GXRP shares at $20.45 as the trust’s total float dropped 51% in six months through redemptions
- XRP open interest on Binance fell to $369.6M, the lowest since 2024, as leveraged traders step back following the hawkish Fed hold
- August has a -6.57% median return for XRP across available history with nine red closes in twelve years of data
XRP trades at $1.0796 on July 30, up 0.5%, pressing against the yearly downtrend resistance at the apex of the descending wedge as the Grayscale CEO files to sell, Binance open interest hits a two-year low, and the CLARITY Act vote hangs on days before the August 8 recess.
XRP Is At The Yearly Downtrend Resistance And The Wedge Apex
The daily chart shows XRP at the convergence point of the descending wedge, with both trendlines meeting n…
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