[Analysis] "XRP posts biggest surge in realized losses since 2022… up 114% over the past eight months"

An analysis has found that XRP has recorded its largest spike in on-chain realized losses since 2022.

On the 22nd (local time), on-chain analytics firm Santiment said recent data show XRP’s weekly realized losses surged to about $1.93 billion (approximately KRW 2.7956 trillion). This is similar to levels seen about 39 months ago. At the time, XRP went on to rise about 114% over the following eight months.

A surge in realized losses means investors sold coins at prices below their purchase cost. This often occurs when fear peaks in the market, accompanied by panic selling and capitulation. Santiment explained that “when weak hands exit the market in large numbers, it reduces the overhang of potential selling that could drive further declines.”

Historically, large realized-loss spikes have often been observed near market bottoms. That is because extreme fear tends to peak before prices bottom. However, this is not a signal that guarantees an immediate rebound; it is closer to a probabilistic interpretation that, once selling pressure is exhausted, even a modest inflow of buying can increase the likelihood of a price rebound.

The market is watching whether this surge in realized losses signals the formation of a structural bottom or represents a final capitulation phase before further downside—an assessment that is likely to be key to the next leg of price action.