XRP Price Slips as Grayscale CEO Sells GXRP Shares and Police Bust $19M Scam

• XRP price was struggling as Grayscale CEO Peter Mintzberg disclosed his first sale of GXRP ETF shares, trimming 2,611 shares while retaining a majority of his holdings
• South Korean police arrested three suspects accused of running a fake XRP staking platform that allegedly stole 3.4 million XRP, worth nearly $19 million, from 71 investors
• Despite the mixed headlines, spot XRP ETFs continued to attract fresh inflows

XRP price remained under pressure and pushed its weekly losses as investors digested two very different developments surrounding the token. On one side, Grayscale CEO Peter Mintzberg disclosed his first sale of GXRP ETF shares since taking over the firm. On the other, South Korean authorities announced arrests linked to a multimillion-dollar XRP scam that allegedly defrauded dozens of investors. Just as investors are hit with a wave of uncertainty, the altcoin’s price continues to struggle.

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Grayscale CEO Trims GXRP ETF Holdings as Institutional Interest Holds Up and Price Slips

A regulatory filing showed Peter Mintzberg sold 2,611 shares of the Grayscale XRP Trust (GXRP), valued at roughly $53,000. The transaction marks his first reported reduction in the fund since acquiring the shares in October 2024. Even after the sale, Mintzberg continues to hold about 2.84 million GXRP shares. This suggests the move represented only a small portion of his overall position. Amidst this, XRP’s price continued to fall.

The disclosure comes as the XRP ETF market continues to attract institutional attention. According to SoSoValue, spot XRP ETFs recorded net inflows of approximately $584,000 on July 29. While the Grayscale filing has drawn attention, the continued inflows show that institutional participation has not meaningfully slowed.

But XRP has struggled to mirror that optimism. CoinMarketCap data shows the token has slipped around 5% over the past week. It shows how the broader market is cautious as traders are looking beyond.

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South Korean Police Dismantle $19M XRP Staking Scam

Amidst XRP’s price fall, Seoul police arrested three people accused of operating a fraudulent XRP staking platform that allegedly stole 3.4 million XRP, worth about $19 million, from 71 investors.

Investigators said the group created fake websites posing as Flare Network services, promising high returns through a fabricated FXRP staking program. Victims were persuaded to transfer their XRP before the funds were allegedly routed through multiple wallets. Authorities said a fourth suspect has fled overseas, prompting an Interpol Red Notice.

The investigation comes as regulators worldwide continue stepping up enforcement against crypto-related fraud. The FBI’s Internet Crime Complaint Center reported that investment scams involving digital assets accounted for billions of dollars in reported losses in 2025. This shows that the risks persist even as institutional adoption expands.

For XRP holders, the week’s headlines point in opposite directions. Institutional products continue to find buyers, yet retail investors remain exposed to sophisticated fraud schemes. This has left XRP’s price caught between growing mainstream acceptance and lingering trust concerns.

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