NewsBTC
Apr 24, 2026 upd. 7 Jun

XRP network activity rises while price trades below holders’ cost basis

3 min

XRP at $1.43, below $1.49 cost basis; on-chain shows stabilization

XRP trades below holders’ cost basis. On-chain, supply, and leverage look contained, not panicky.

Spot prints $1.4343 versus realized price $1.4862. The gap puts average holders at an unrealized loss (Alphractal). MVRV sits at 0.9613. “An MVRV below 1.0 means the market is valuing XRP below aggregate cost basis” (Alphractal), consistent with late-bear or consolidation zones (NewsBTC on MVRV).

NUPL prints -0.0402. The asset sits in “Fear.” Alphractal calls it a “psychologically fragile zone,” not capitulation (Alphractal).

Supply stays tight. Market cap is $88.33B. Circulating supply is 61.57B XRP. Exchange reserves hold 3.68B XRP ($5.27B), about 6% of supply. Reserves rose 2.3% in seven days, but “not enough to suggest distribution dominance” (Alphractal).

Network usage rebounds. Active addresses hit 48,946, up 17.7% day-over-day and 40.8% week-over-week. Daily transactions reach 2.81M. Adjusted transfer value is $29.58B per day. “Rising participation without aggressive price” points to organic usage, not churn (Alphractal).

Valuation-efficiency signals hold. NVT is elevated but stabilizing. Token velocity is moderate. VANV reads neutral. Valuation versus transferred value is not overheated, and velocity hasn’t collapsed (Alphractal).

Derivatives look contained. Open interest stands at $1.49B, 1.69% of market cap. Long/short is 2.34. Top trader sentiment is 2.05. 24h liquidations total $870K. No broad leverage flush in price action (NewsBTC on open interest).

Whales lag retail. Whale-versus-retail delta is -0.81. Whales aren’t accumulating aggressively, and there’s no heavy distribution. That aligns with range-bound accumulation (NewsBTC on whale flows).

Capital inflows remain weak. The 365‑day Delta Growth Rate is -111.7, pointing to scarce new money and support mainly from existing holders (Alphractal).

XRP price chart