BEARISH 📉 : Glassnode flags XRP capitulation as profit-to-loss ratio sinks to 0.38
Glassnode says XRP is in “intense capitulation.” The 90‑day realized profit‑to‑loss ratio fell to 0.38, implying $2.63 of realized losses for each $1 of profit (Glassnode on X).
The ratio sits far below the 1.0 equilibrium. It has flipped from ~50 at the 2025 peak to 0.38 in one cycle, a near-total reversal (source).
XRP traded near $1.10 during the analysis window, below an aggregate realized price of ~$1.48, leaving the average holder underwater (TradingView XRPUSD, Glassnode).
XRPL activity has slumped. Fees on a 90‑day MA dropped from ~5,900 XRP/day in Feb 2025 to ~500 XRP, a 91.5% decline, signaling weaker block‑space demand (Glassnode on X).
SOPR slid from ~1.16 in July 2025 to 0.96 in early 2026, below the 1.0 break‑even, confirming coins are moving at a loss rather than for profit‑taking (source).
Holder structure looks fragile. About 41.5% of supply (~26.5B XRP) sits at a loss. And 62.8% of XRP’s realized cap was set in the last six months, a “top‑heavy” profile per Glassnode (source).
Key data points:
- 90‑day realized P/L ratio 0.38; $2.63 loss per $1 profit (Glassnode)
- Price ~$1.10 vs realized price ~$1.48 (holders underwater) (TradingView, Glassnode)
- XRPL fees: 5,900 → 500 XRP/day, −91.5% (Glassnode)
- SOPR: 1.16 → 0.96, below 1.0 (Glassnode)
- 41.5% of supply at a loss (~26.5B); 62.8% of realized cap set in past 6 months, “top‑heavy” (Glassnode)
Source: Glassnode on X
Headline: Glassnode: XRP in “intense capitulation” — P/L 0.38, fees −91.5%, 41.5% supply at a loss