XRP (XRP-USD) stumbled into the new week under renewed pressure, sliding to about $2.14 and exposing deeper cracks in its market structure. New data from Glassnode showed that 41.5% of XRP’s total supply is now underwater, a sign that large pockets of the holder base are trapped above current levels.
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The firm said Monday that “XRP supply in profit” has fallen to its weakest point since November 2024, when the token was trading around $0.53. Glassnode added that “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.”
Analysts Flag a Market Weighted by Late Entrants
Tony Sycamore, market analyst at IG Australia, said the scale of unrealized losses has caught many investors off guard. He explained that “the data 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 noted that “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 warned that this top-heavy supply distribution is contributing to weak sentiment. Stop-loss triggers and forced de-risking could fuel another leg lower if selling intensifies. Sycamore said “recovery will require a decisive rebound back above $2.70.”
XRP ETF Momentum Fails to Lift Price
A cluster of spot-XRP ETFs is set to hit the market this week, giving some investors hope that new inflows may help stabilize demand. Canary Capital’s XRPC fund already logged the strongest day-one volume of any U.S. ETF debut in 2025. This set the expectation for follow-on issuers Franklin Templeton (BEN), Bitwise, 21Shares and CoinShares (CNSRF).
Momentum has yet to spill over into price action. XRP continues to trade more than 40% below its July peak of $3.65. The question now is whether ETF inflows can offset pressure from late-cycle buyers who remain deep in the red.
At the moment, analysts are watching two levels. The $2.00 zone remains the key line preventing a slide into the high $1 range. A move toward $2.70 would be the first sign that bulls have regained control after one of XRP’s most punishing drawdowns of the year.
At the time of writing, XRP is sitting at around $2.19.
