On-chain analytics firm Glassnode said XRP holders continue to realize more losses than profits, as a key indicator dropped to its lowest level since August 2022. The decline points to intensifying selling pressure as more holders move coins at a loss.
According to the firm’s June 25 update, the 90-day simple moving average of XRP’s Realized Profit-to-Loss Ratio fell to 0.33 from 0.38 on June 9. The metric compares realized profits with realized losses from coins moved on-chain and helps measure the market’s overall profitability.
Realized Profit-to-Loss Ratio Signals Deepening Capitulation
A reading above 1 indicates that realized profits exceed realized losses, while a value below 1 shows that losses dominate. At the current level, the ratio implies that only 33 cents of profit is realized for every one dollar of realized losses.
Glassnode noted that the ratio reached about 50 during XRP’s 2025 market peak, reflecting a period when profit-taking significantly outweighed loss-making sales. The sharp decline since then points to a major shift in market conditions, with more holders exiting their positions at a loss.
Based on these readings, the analytics firm said the market is showing signs of intense capitulation among participants moving coins on-chain. It added that the continued weakness in the ratio suggests capitulation pressure has become more pronounced in recent weeks.
Transaction Fees Decline Alongside Holder Profitability
Separate data shared by the firm on June 9 also showed a steep reduction in activity on the XRP Ledger. The 90-day average of total transaction fees dropped from 5,900 XRP in February 2025 to about 500 XRP, representing a decline of roughly 91.5%.
Together, Glassnode’s charts suggest that weakening network activity has accompanied the deterioration in holder profitability. The realized profit-to-loss ratio climbed sharply during the 2025 rally before falling steadily through late 2025 and into 2026. Total transaction fees followed a similar downward path after the speculative peak.
The weak on-chain readings have prompted mixed interpretations among market participants. Some market participants on X said such low readings could indicate sellers are becoming exhausted. Others pointed to XRP remaining above the $1 level despite the weak profitability data.
Virka XRP Selling Pressure Intensifies as Profit-to-Loss Ratio Reaches Multi-Year Low ilmestyi ensin osoitteessa CryptoPotato.














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