Glassnode Data: Most XRP Supply in Loss, What It Means for Investors

• Glassnode data shows 36.8 billion XRP, nearly 60% of the circulating supply, is held at a loss, with unrealized losses reaching $50.8 billion.
• XRP traded near $1.34, while futures volume jumped on BitMEX and Binance as ETF outflows and weak spot activity kept pressure on price.

Glassnode data shows that most XRP in circulation is now held at a loss. The firm reported on March 8 that about 36.8 billion XRP, nearly 60% of the circulating supply, was below its on-chain cost basis. At current prices, those positions amount to roughly $50.8 billion in unrealized losses.

This data emerges when the XRP price is still trading significantly lower than the altcoin’s previous highs. It changed hands at $1.34 at the time of the update, which is over 63% below its all-time high of $3.65 in July 2025. That drop has pushed a large section of holders into negative territory and has changed the market structure around the asset.

Glassnode’s unrealized profit and loss model compares the current market with the price at which tokens last moved on-chain. This method focuses on cost basis rather than wallet counts alone to provide a more direct picture of the share of the supply that is profitable and that which is in the red.

For investors, this matters because large unrealized losses can shape price trends during recovery attempts. If a token is trading below the entry price of a large section of the holders, many often wait for rallies to dump their tokens and cut down their exposure. That pattern can increase selling near key resistance zones and can slow price recovery.

XRP has also posted weak performance across several periods. The token was down 0.5% over the past week, 7.1% over the past month, and more than 35% over the past year. Those moves explain why the share of supply in loss has remained high even as trading activity continues across major exchanges.

In other recent XRP news, we reported that Japan-based Vlightup launched a trade finance platform on the XRP Ledger to speed up global settlements. The system uses multi-party smart escrow and conditional fund release to reduce delays, fraud risk, and high transaction costs.

XRP Derivatives Activity Climbs

While many holders remain underwater, derivative volume has moved higher. CoinGlass data showed XRP futures volume on BitMEX surging by more than 7,000% to about $49 million. Binance recorded roughly $733 million in XRP futures volume over the past 24 hours, while Bybit and OKX also posted strong turnover.

That rise in futures activity points to growing short-term positioning as traders await a clearer direction. Higher derivatives volume often reflects increased leverage and faster trading around price swings. 

Meanwhile, a recent report showed that crypto philanthropy surpassed $100 million in 2025, with RLUSD ranking second and XRP seventh among the most donated digital assets. Earlier, CNF stated that Ripple expanded its charitable activities through a $25 million pledge to Teach For America and DonorsChoose using RLUSD.