Grayscale’s XRP Trust has experienced an 11.44% increase in its net asset value (NAV) since its debut. This growth underscores rising institutional interest in XRP. Crypto commentator Moses highlighted this development on X, noting that the NAV of the XRP Trust has climbed to $11.77, indicating robust momentum.

Recent NAV Performance

Since its launch, the NAV per share of the XRP Trust has been rising. On September 6, the NAV fell to $10.31, but by September 10, it had increased to $10.81. Following a slight dip, it surged to $11.25 on September 12. The trust continued its upward trajectory, reaching $11.77 on September 17. However, by the end of trading on September 18, the NAV had slightly dropped to $11.49. 

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Grayscale reports that this represents a 2.38% one-day negative change. The recent decline in NAV comes despite Grayscale’s announcement of reopened private placements for XRP and other cryptocurrency trusts. This move allows accredited investors to buy shares in 18 major cryptocurrency trusts, including XRP. 

_{Grayscale XRP Trust}

Even with this development, the NAV remains notably higher compared to last week’s figure. The increase from $10.31 to the current $11.49 reflects an 11.44% growth.

Comparison with Other Grayscale Trusts

In comparison, Grayscale’s SUI Trust has shown stronger performance. The NAV per share of the SUI Trust rose by 7.85% in the past 24 hours, while XRP’s NAV decreased by 2.38% during the same period. 

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This disparity might be due to XRP’s value briefly dropping to around $0.56 before recovering to $0.585, showing a 1.15% increase. Conversely, SUI’s market price surged by over 13% today. At present, the Grayscale XRP Trust holds assets worth $646,729, up from $622,000 the previous day. 

Despite the recent negative growth, the trust’s overall performance reflects substantial progress since its launch.