The XRP supply in profit has collapsed to levels last seen when the XRP price traded around the $0.5 zone.
Glassnode, a leading market intelligence platform, highlighted this bearish turn of events on the back of the ongoing market downturn. Specifically, XRP has collapsed with the rest of the crypto market, down 13.88% in November, and on track to record its highest monthly decline since February 2025.
XRP Supply in Profit Dips
With XRP currently trading for $2.16 amid the persistent declines, Glassnode recently called attention to the impact of this downtrend on investor holdings. Specifically, the market intelligence firm revealed that of 63.86 billion tokens in circulation, the XRP circulating supply in profit has dropped to about 58.5%. This translates to 37.36 billion tokens.
According to Glassnode, today, the latest figure indicates that up to 41.5% of the XRP supply, amounting to 28.5 billion XRP, remains in loss. Notably, while this shows that there are still more investors in profit, the recent supply figures represent a massive decline from previous values when XRP changed hands at similar levels.
For instance, when XRP surged beyond the $0.5 range in November 2024, hitting the $2 mark by early December 2024, the profit in supply was much higher.
Specifically, at the $2 price last December, the percentage supply in profit for XRP surged above 95%, signifying that nearly all investors saw gains on their holdings. Notably, most of the investors bought when prices traded between $0.5 and $0.6 for years before the November 2024 rally.
However, with XRP currently trading at $2.15, about 7.5% higher, the supply in profit now stands at just 58.5%. Glassnode confirmed that the last time XRP saw this level of supply in profit, the XRP price changed hands around the $0.5 level.
Reason Behind the Divergence
Notably, this divergence is due to the influx of new investors, who jumped on the XRP rally that began after the November 2024 breakout. Specifically, with XRP breaking above the $2 price, investors who had neglected the token for years eventually entered the market at higher prices, expecting further price appreciation.
When XRP traded between the $2.7 and $3.6 price region from mid-July to early-October, the percent of supply in profit stood at a range of 85% to 100%. However, with prices now tumbling to the lower end of the $2 mark, the supply in profit has collapsed to the current 58.5% range.
According to Glassnode, the current state represents a fragile market dominated by late buyers. The firm’s latest disclosure comes at a time when investors have begun ramping up their profit-taking trades. Specifically, Glassnode revealed that profit-taking volume had risen from $65 million a day to $220 million a day since late September.
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