XRP enters zone where 60% of circulating supply is at a loss…ETF funds also retreat

XRP’s decline has pushed more than 60% of the total circulating supply into loss territory.

According to Cointelegraph on the 9th (local time), XRP is currently trading at around $1.35, down about 28% from this year’s opening price ($1.87). It also closed last year down 11.6% on an annual basis, extending the bearish trend.

According to on-chain data analytics firm Glassnode, about 36.8 billion XRP is currently trading below its purchase price, representing more than 60% of the circulating supply. Unrealized losses were estimated at about $50.8 billion.

XRP’s spot price is also trading below the average cost basis of all holders, around $1.44, increasing pressure on long-term holders.

Outflows are also continuing from XRP spot exchange-traded funds (ETFs). According to data analytics platform SoSoValue, XRP spot ETFs recorded net outflows of $22.8 million over the past two days.

In particular, about $16.2 million exited in a single day last Friday, marking the largest daily outflow since Jan. 29. Global XRP investment products also saw weekly net outflows exceed $30 million as of March 6.

Technically, $1.40 is seen as a key resistance level, while $1.30 is viewed as crucial support. Analysts say that if this support holds, the price could rebound back toward the top of the range.

However, if $1.30 breaks, the next support could be the Feb. 28 low of $1.27. If that level also fails, declines could extend to around $1.13, near the Feb. 6 low and the 200-week exponential moving average (EMA). Conversely, if the price regains $1.40, the uptrend could resume, with some projecting room for a rebound toward $1.60 and $1.95.