₱2.96 trillion ($50 billion) of XRP Held at Loss as Pain Peaks
XRP's pain metric has reached its second-highest level of the cycle, with investor losses mounting as the token struggles to recover from recent declines.
Key Takeaway
When half your supply is underwater, bottoms typically form — but XRP needs a catalyst to reverse the trend.
On-chain analytics firm Glassnode published data showing 36.8 billion XRP tokens are currently held at a loss, representing ₱2.96 trillion ($50 billion) worth of XRP supply underwater. The metric measures the total amount of cryptocurrency supply where the last transaction price exceeds the current spot price.
XRP traded at $1.35 at the time of the report, down 0.5% in the previous 24 hours. The seven-day exponential moving average shows Total Supply in Loss reached its second-highest level in the current cycle, surpassed only once before in recent years. The metric fell to relatively low levels early in 2025 before climbing sharply in the last quarter as the broader crypto sector entered a bearish phase.
Digital asset markets typically bottom when investor pain peaks. The counterpart metric — Total Supply in Profit — tracks coins with a cost basis lower than the current spot price. When Total Supply in Loss surges while prices stagnate, it typically signals capitulation among holders who bought at higher levels. The current underwater supply represents more than half of XRP's circulating tokens held by investors facing unrealized losses.
XRP settled its multi-year SEC battle in August 2025 with a ₱7.4 billion ($125 million) settlement. The case established that XRP sold on public exchanges to retail investors is not classified as a security, though ₱43.07 billion ($728 million) in institutional sales violated securities laws. ProShares Ultra XRP ETF became the first XRP-focused ETF approved in the United States in July 2025, expanding investment options for institutional and retail participants looking to gain XRP exposure.
This article was written based on reporting from NewsBTC.
