Investors poured millions back into Grayscale’s XRP fund, but a $16.8M market hit instantly wiped out the comeback

- Grayscale’s XRP Trust (GXRP) tried a Q2 comeback, adding 480k shares to patch the 3.94M hole from Q1. Cute. But while new capital brought in $12.7M, investment losses burned $16.8M instantly. Net assets dropped to $57.4M. The fund holds more XRP now, but the balance sheet is bleeding out. Investors thought they were buying the dip; they just funded the exit liquidity for early sellers. This isn’t a recovery; it’s a slow-motion liquidation event disguised as institutional adoption. If you’re holding GXRP expecting alpha, check your manifest: you’re paying fees to watch your stack-eye shrink. Professional solidarity? More like professional donation.