XRP tumbled nearly 10% over the past week to around $3.13, significantly underperforming Bitcoin’s 2.25% and Ethereum’s 0.50% drops. Data from Glassnode reveals that over 93% of XRP’s circulating supply remains in profit, sparking a wave of profit-taking among long-term holders.
This profit-taking pressure is stronger than Ethereum’s, where 84.7% of holders are in the green. Historically, when such high percentages of supply are in profit, markets often face increased selling as investors lock in gains—especially near resistance levels.
The pressure intensified as XRP neared its recent high of $3.60, with Ripple co-founder Chris Larsen reportedly transferring $175 million in XRP to multiple addresses. On-chain sleuth zackXBT confirmed that $140 million of this was sent directly to exchanges, sparking fears of large-scale dumping.
Short-term holders who bought between $2.30–$2.80 also panicked during the correction, compounding the selloff.
With whale activity and profit-taking cascading through the market, XRP may struggle to recover in the near term. Analysts suggest support could re-emerge in the $2.30–$2.80 range, while any breakout above $3.60 would require renewed, strong demand.
For now, XRP’s price remains under pressure as supply-demand dynamics seek new equilibrium.
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