XRP MVRV Hits Lowest Since July 2024 Amid Rising Realized Losses

• XRP MVRV hits its lowest since 2022 as average wallets show 41% losses across holders.
• XRP investors who bought above $2 are realizing $20M–$110M in daily losses.
• XRP supply in profit falls to 43.4%, the lowest level since July 2024.

XRP market data is showing a decline in trader profitability, as multiple on-chain metrics point to ongoing losses across both short- and long-term holders. At the same time, selling activity has increased during recent price declines, strengthening the shift in market structure. Data from Santiment and Glassnode show that a large share of participants are now operating on a below-cost basis, while realized losses continue to accumulate, particularly among newer entrants.

Santiment data show that the average wallet on the XRP Ledger active over the past year is down approximately 41% on its investments. This marks the lowest Mean Value to Realized Value (MVRV) reading since November 2022, when market conditions were impacted by the FTX collapse. As a result, the 365-day MVRV metric has entered a historically high “opportunity zone,” a range previously associated with accumulation phases.

Notably, this same range was last observed in late 2022. Following that period, XRP’s price rose by approximately 63% over the next 4.5 months. In contrast, current readings show that many holders are now at or near unrealized losses. Both the 30-day and 365-day MVRV indicators reflect reduced profitability, while XRP continues to trade below the neutral line, signaling subdued market conditions.

Realized Losses Rise as Short-Term Holders Exit

At the same time, Glassnode data show that realized losses among XRP holders have increased when measured on a 30-day moving average. Further data show that investors who accumulated XRP above $2 over the past year have been realizing losses at a rate of $20 million to $110 million per day since November 2025.

Meanwhile, longer-term holders, those holding for more than one year, show comparatively lower realized loss levels. This indicates that this group is contributing less to the current wave of selling. 

The rise in realized losses aligns with a downward price trend, reinforcing the connection between declining prices and increased selling pressure. Overall supply profitability has declined across the XRP network. Glassnode reports that the percentage of supply in profit has dropped to 43.4% at a price of $1.33, marking the lowest level since July 2024. 

Related: XRP Under Pressure as 56% Supply in Loss, Analysts Split on $0.90 or $8 Move