XRP Faces Steep Selling Pressure as Profit-to-Loss Ratio Hits Multi-Year Low

XRP Selling Pressure Intensifies as Profit-to-Loss Ratio Reaches Multi-Year Low

On-chain analytics firm Glassnode reported that XRP holders are continuing to realize more losses than profits, with a key indicator reaching its lowest point since August 2022. This decline suggests increasing selling pressure as more holders divest their assets at a loss.

According to the firm’s update on June 25, the 90-day simple moving average of XRP’s Realized Profit-to-Loss Ratio has fallen to 0.33, down from 0.38 on June 9. This metric, which compares realized profits against realized losses from on-chain transactions, serves as a gauge of overall market profitability.

A ratio above 1 signifies that realized profits are greater than realized losses, while a value below 1 indicates that losses are more prevalent. The current reading implies that for every dollar of realized losses, only 33 cents in profit is being realized.

Glassnode noted that this ratio peaked at approximately 50 during XRP’s market surge in 2025, a period characterized by profit-taking significantly outweighing sales at a loss. The subsequent sharp decline signals a substantial shift in market dynamics, with an increasing number of holders exiting their positions at a deficit.

Based on these observations, the analytics firm indicated that the market is exhibiting signs of intense capitulation among participants moving XRP on-chain. The sustained weakness in the ratio, Glassnode added, suggests that capitulation pressure has become more pronounced in recent weeks.

Separate data released by Glassnode on June 9 also highlighted a significant reduction in activity on the XRP Ledger. The 90-day average of total transaction fees has dropped from 5,900 XRP in February 2025 to approximately 500 XRP, marking a decrease of roughly 91.5%.

Collectively, Glassnode’s data suggests that a weakening of network activity has coincided with the deterioration in holder profitability. The realized profit-to-loss ratio experienced a sharp increase during the 2025 rally before steadily declining through late 2025 and into 2026. Total transaction fees followed a similar downward trend after the speculative peak.

The subdued on-chain metrics have led to varied interpretations among market participants. Some users on X have suggested that such low readings could signal seller exhaustion. Others have pointed to XRP’s ability to remain above the $1 mark despite the weak profitability data.