New data from the on chain analytics platform Glassnode reveals that a large portion of XRP investors are currently holding the asset at a loss. According to the report published on March 8, around 36.8 billion XRP are now underwater. This represents close to 60 percent of the cryptocurrency’s circulating supply and equals approximately 50.8 billion dollars in unrealized losses.
The figures reflect the scale of the recent price decline as XRP trades near 1.34 dollars. The asset is currently more than 63 percent below its all time high of 3.65 dollars reached in July 2025.
Data Reveals Significant Unrealized Losses
The unrealized profit and loss indicator compares the current market price of an asset with the price at which each token last moved on the blockchain. Instead of simply counting how many coins are above or below the current market value, the metric evaluates the cost basis of every coin. Analysts frequently rely on this measurement to understand investor sentiment throughout different phases of market cycles.
XRP has shown weak performance across several timeframes. The cryptocurrency declined by about 0.5 percent over the past week, fell 7.1 percent during the past month, and has dropped more than 42 percent over the past year.
Because of this extended downturn, most XRP holders are now sitting on paper losses totaling about 50.8 billion dollars. Such conditions can create selling pressure if prices begin to recover toward the levels where investors originally purchased their tokens.
Earlier attempts to push the price higher were rejected near the 1.45 dollar level. This rejection occurred during a week when United States based XRP exchange traded funds experienced net withdrawals. On March 6 alone, about 16.62 million dollars left these investment products, marking the largest daily outflow since late January.
Derivatives Trading Activity Increases
Despite the widespread unrealized losses among holders, derivatives trading activity has increased across several exchanges. Data from CoinGlass shows that XRP futures trading volume on BitMEX surged by more than 7000 percent to roughly 49 million dollars. The spike suggests that traders may be using greater leverage while waiting for a clearer market direction.
Meanwhile, Binance recorded around 733 million dollars in XRP futures trading volume within the past twenty four hours. Other platforms such as Bybit and OKX also reported substantial derivatives activity.
At the same time, some indicators suggest that spot market activity has slowed. Data shared by the analytics account Arab Chain shows that Binance’s thirty day volume Z Score is around negative 1.16, indicating that current daily trading volumes remain below the recent average.
Analysts Offer Mixed Outlook
Market commentary on the social platform X reflects divided opinions about XRP’s next move. Crypto analyst EGRAG Crypto noted that the asset often goes through cycles that include price declines followed by long periods of consolidation before a new expansion phase begins. The analyst described the current situation as a potential phase of time based capitulation, where investor sentiment resets during prolonged sideways movement.
Other analysts remain cautious about the short term outlook. Some forecasts suggest that XRP could fall below the one dollar level again, with one projection identifying a possible support zone near 0.90 dollars if the downward trend that began in mid 2025 continues.#crypto#cryptonews https://t.me/coinsignalpublic https://coinsignals.net
