Analysts say that XRP may continue to fall if it does not make a significant recovery in the near future. They estimate that 41.5% of XRP investors are currently underwater.
When a X is x post Glassnode, a crypto-analytics firm, announced on Monday that it had analyzed the Ethereum blockchain. “XRP supply in profit” The price of the currency has fallen to its lowest level since November 2024 when it was $0.53.
“Today, despite trading ~4× higher ($2.15), 41.5% of supply (~26.5B XRP) sits in loss — a clear sign of a top-heavy and structurally fragile market dominated by late buyers,” Glassnode is a brand name.
IG Australia’s Tony Sycamore, a market analyst for Cointelegraph, said that the price decline was likely a shock to most XRP holders. The top-heavy structure may have led some to consider cutting their losses if this downward trend persists.
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“The date suggests that many XRP holders likely bought when XRP was above $3.00 ( Jan, July, August, September, and early October), leaving their entry point well above the current ~$2.16 level,” Sycamore said.
“The 40%+ sell-off from July $3.66 high has blindsided both long-term hodlers expecting perpetual upside and newer entrants who bought near the highs due to FOMO and viewed dips as a buying opportunity,” “He said”
Sycamore says that the widespread, unrealized losses are now impacting sentiment. They also raise the possibility of further downward pressure as sales may be impacted by forced or stop-loss orders.
“Recovery will require a decisive rebound back above $2.70,” “He said”
The wave of ETFs that have been launched is one thing that many holders hope will bring back the bullish trend for XRP. expected to hit the market This week.
Canary Capital has launched the first ever spot-XRP ETF on Thursday. successful first-day performance There are still four ETFs that will be launched in 2025 by Franklin Templeton: Bitwise 21Shares CoinShares.
Nevertheless, price has yet To show signs of resurgence. The current price of XRP at time of publication is $2.14. down over 40% The price of gold has fallen by about 80% since its peak on July 18th, when it reached $3.65.
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Source: cointelegraph.com
