XRP Analysis from Glassnode! “First Seen Since November 2024, Data Warns!”

Bitcoin (BTC) experienced a major decline yesterday, falling below $90,000 for the first time in seven months. Altcoins followed suit, with Ethereum (ETH) also falling below $3,000 for the first time in a long time.

In addition, XRP was undoubtedly one of the altcoins that experienced a significant decline in the recent decline.

While XRP fell to $2.1, Glassnode shared interesting data about XRP.

On-chain analytics firm Glassnode said in its latest analysis that over 41% of XRP holders are currently at a loss.

According to Glassnode, XRP holders’ share of profits dropped to 58.5%, leaving 41.5% in a loss position.

This marks the lowest profitability level since November 2024, when XRP was trading at $0.53.

According to the data, 26.5 billion XRP, equivalent to 41.5% of the total supply, was found to be in short supply. This suggests the market is “top-heavy,” with investors mostly buying at higher prices.

The proportion of XRP supply in profit zones has fallen to 58.5%. This is the lowest level since last November.

The current XRP price of $2.15 is nearly four times higher than last November ($0.53), yet still leaves 41.5% of the total supply at a loss.

This means the market is dominated by late-entry investors.”

Consequently, such a high level of outflows means that late investors who bought at higher price levels are under pressure. This structure could potentially put downward pressure on the price.

Because many investors bought near the peak, if prices fall further, these investors may panic sell, increasing downward pressure.

Glassnode therefore concludes that the current structure is structurally fragile. At this point, Glassnode notes that despite the current price of around $2.15, data points to an unstable market structure dominated by investors buying at higher prices.

*This is not investment advice.

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