While 71% are in profit XRP just triggered a rare signal last seen in 2022 that could paralyze rallies for months
XRP shows a rare on-chain signal mirroring early 2022, where newer buyers accumulate below stressed longer-term holders, potentially causing prolonged sideways movement.Summary
XRP's current on-chain structure mirrors a pattern from early 2022 where short-term buyers are accumulating below the realized prices of the 6- to 12-month cohort, creating overhead resistance. While 71.5% of the XRP supply is currently in profit, this aggregate figure masks structural tension, as rallies face selling pressure from these underwater holders seeking to exit at breakeven. Data shows realized profit spikes coinciding with volatility, suggesting relief-rally selling. However, exchange flows indicate a net accumulation bias, with outflows outpacing inflows, suggesting newer participants are moving coins to self-custody. Furthermore, derivatives markets show reduced leverage compared to prior highs, limiting the risk of forced liquidations but also dampening breakout potential. The next few weeks will determine if this cohort pressure translates into distribution or if accumulation continues, suggesting a period of slow, spot-led consolidation similar to early 2022.
(Source：CryptoSlate)