XRP’s Top Holders Remain Profitable While Bitcoin and Solana Holders Face Losses
Recent on-chain data reveals a surprising divergence in the cryptocurrency market. While many investors are underwater, a significant portion of XRP’s early adopters are still swimming in profits. Let’s dive into the details.
A Tale of Two Markets
Glassnode, a leading on-chain analytics firm, has highlighted a key metric: Realized Price. This metric tracks the average acquisition cost of investors across a cryptocurrency network. When Realized Price surpasses the current market price, it indicates widespread unrealized losses. Conversely, a Realized Price below the market price signals profitability.
Glassnode focused on investors who entered the market during the euphoric period between December 2024 and January 2025—essentially those holding assets for 3 to 6 months. Their analysis unveils a stark contrast between XRP and other major cryptocurrencies.
XRP: A Beacon of Green
For XRP, the Realized Price of these mid-term holders sits comfortably below the current market price. This means many of XRP’s early investors are enjoying an approximate 11% net profit. While some early adopters may have sold, a substantial number are still holding and profiting.
Bitcoin, Solana, and Ethereum: A Sea of Red
The picture is drastically different for Bitcoin (BTC), Solana (SOL), and Ethereum (ETH). Glassnode’s data shows that mid-term holders of these cryptocurrencies are facing significant unrealized losses. SOL holders are down roughly 28%, ETH holders are down approximately 36%, and even BTC holders are experiencing a small, yet notable, 1% loss.
Market Implications
Glassnode suggests that a market price consistently trading below the cost basis of mid-term holders is a strong indicator of market weakness. This observation underscores the divergence in market sentiment and performance between XRP and other major cryptocurrencies.
Current XRP Price
At the time of writing, XRP is trading around $2.13, experiencing a slight dip of almost 4% over the past week.
Disclaimer: This analysis is based on publicly available data and should not be considered financial advice. Investing in cryptocurrencies involves significant risk.