The cryptocurrency XRP is showing significant strain as key metrics indicate widespread losses among holders. On-chain data reveals wallets active over the past year are facing average losses of 41%, with the Market Value to Realized Value (MVRV) ratio at its lowest since the FTX collapse in late 2022. The asset’s price has remained volatile, struggling to sustain gains above $1.35, while spot ETF products have also experienced persistent outflows.
XRP faced a fresh price decline, struggling to climb past $1.31 after failing to hold gains above $1.35 last week. This ongoing volatility has left long-term traders with historically low average returns.
According to on-chain analytics firm Santiment, wallets active on the XRP Ledger over the past year are sitting on average losses of around 41%. This puts XRP’s MVRV at its lowest level since the FTX collapse in November 2022.
The data suggests market participants are experiencing heavy drawdowns, reflecting what Santiment describes as “blood in the streets” conditions. Transaction patterns also show a net outflow from exchanges, with withdrawals outpacing deposits over the past month.
Analyst ‘CasiTrades’ stated that XRP is showing signs of exhaustion rather than strength. She projected a potential path lower toward key support levels, including an initial move toward $1.13.
Spot XRP ETFs have seen weakening demand, posting their first negative month in March since launching last November. Geopolitical tensions fueled uncertainty, leading to approximately $31 million in withdrawals from the funds.
This outflow trend continued into April, with data showing investors pulled about $1.25 million in the first week alone. The combined factors of on-chain losses, price volatility, and ETF outflows highlight a period of significant pressure for the asset.
