The on-chain analytics firm Glassnode reports that nearly 60% of the circulating XRP supply is held at a loss. Approximately 36.8 billion tokens are in loss positions, representing roughly $50.8 billion in unrealized losses, as the asset trades down more than 60% from its all-time high.
A new report reveals a significant number of XRP holders are currently underwater. Data from Glassnode shows an estimated 36.8 billion XRP, nearly 60% of the circulating supply, is held at an unrealized loss.
This positions the total dollar amount of these losses at approximately $50.8 billion. The figures emerge as XRP trades around $1.34, a decline of over 63% from its July 2025 all-time high of $3.65.
The asset has faced weakness across multiple timeframes, dropping 42% in the last year alone. The current environment suggests potential selling pressure could emerge should the price recover toward individual holders’ cost bases.
Earlier price recovery attempts stalled near $1.45 last week. This coincided with U.S. XRP ETFs posting net outflows, including a single-day withdrawal of $16.62 million on March 6.
Conversely, activity in derivatives markets has increased significantly. Binance recorded about $733 million in XRP futures volume in a 24-hour period, while volume on BitMEX spiked by over 7,000%.
Market commentary on social media reflects mixed views about the future direction. Analyst EGRAG Crypto suggested the current structure may represent a period of “time-based capitulation.”
