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The share of $XRP supply held in profit has continued to decline and is now at its lowest level in nearly two years.
Recent on-chain data from Glassnode, shared in a Monday X post, confirms this negative trend. The post emphasizes that the ratio of $XRP supply seeing unrealized gains has reached a 21-month low, increasing pressure on holders amid subdued market conditions.
Key Points
- At a price of $1.33, only 43.4% of $XRP’s circulating supply is currently in profit.
- The data shows that more than half of $XRP’s supply is now below the price it last move, the lowest level recorded since July 2024.
- These massive losses also suggest that a large portion of holders entered the market late.
- Since November 2025, daily realized losses have ranged between $20 million and $110 million among investors who bought above $2.
- At the same time, historical trends in the chart show that similar phases of elevated loss realization have often coincided with late-stage corrections.
Majority of the $XRP Supply Now Sitting at a Loss
At a price of $1.33, only 43.4% of the $XRP circulating supply is currently in profit. This marks the lowest level recorded since July 2024, reflecting a notable shift in supply positioning over recent months.
The data shows that more than half of $XRP’s supply is now below its acquisition price. With 43.4% in profit, the other 56.6% are either at break-even or underwater.
This trend comes amid the bearishness that has dominated proceedings in the past several months. Specifically, $XRP has recorded six consecutive red monthly candlesticks, a price action not even seen following the 2017/2018 and 2021 bullish phases.
Since its July 2025 all-time high of $3.66, the coin has dropped by over 63%, driven by rapid sell-offs and macroeconomic uncertainties. This level of downside has led most $XRP holders to nurse severe losses on their stashes.
Many $XRP Holders Bought Late
Interestingly, these massive supply losses also suggest that a large portion of holders entered the market late. Notably, $XRP trades around $1.34, barely 31% below its previous cycle’s high of $1.96.
Before $XRP broke above this level in November 2024, it spent years changing between $0.30 and $0.65. In November 2024, it broke out from the lows of $0.49 to reach $1.95.
The numbers suggest that holders paid little attention to $XRP while it traded well below $1 but began buying when the coin reached much higher prices. As such, when the price declined from prior highs, many of these positions moved into negative territory.
Notably, the drop in profitable supply aligns with previous periods where market sentiment weakened, and prices struggled to maintain upward momentum. Historically, they precede price bottoms and accumulation phases.
Loss Realization Accelerates Across Mid-Term Holders
Further insights from Glassnode reveal that realized losses have been increasing steadily. Since November 2025, daily realized losses have ranged between $20 million and $110 million among investors who bought above $2.
This activity has been most visible among short- to mid-term holders, as reflected in the spikes across different age bands. These patterns suggest that participants who entered during recent highs are gradually exiting their positions as $XRP remains below their entry price.
$XRP last reached $2 in January, peaking at $2.41. With prices still consolidating, this class of holders has preferred to sell at a loss rather than hold longer, as sentiment remains very negative and fear is at extreme levels.
At the same time, historical trends in the chart show that similar phases of elevated loss realization have often coincided with late-stage corrections. While this does not confirm a reversal, it provides context for how $XRP has behaved during comparable market conditions.