Summary
- Reported that over 41% of XRP holders are in loss.
- It said the share in profit of XRP is 58.5%, the lowest in a year.
- Glassnode interpreted that XRP's market structure has become vulnerable to short-term and lagging buying pressure.
The proportion of XRP in profit has fallen to its lowest level in a year, and more than 40% of holders are at a loss.
On the 18th (local time), Glassnode said the share of XRP supply in profit is 58.5%, the lowest since the price was $0.53 in November last year.
The current XRP price is about $2.15, roughly four times higher than then, but about 26.5 billion XRP, or 41.5% of total supply, remain in the loss zone. Glassnode interpreted this as "a sign that price levels were formed mainly by short-term, lagging buying pressure."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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