CoinDesk
XRP has climbed about 8% over the past week to roughly $1.14, even as onchain data show its holders are sitting on the largest unrealized losses in the token's history. The 30-day MVRV ratio, which compares current price with the average price supply last moved at, sits near minus 45%, while the 365-day version is around minus 47%. Combined, that puts both recent buyers and longer-term holders deep in the red at a level analytics firm Santiment says XRP has never reached before.
Why it matters
MVRV below zero means the average holder is underwater, and the deeper it goes the more pain has already been absorbed by weak hands. Santiment framed the setup as a risk-reward entry rather than a price call, writing that the best setups often appear when the crowd is feeling maximum pain. The firm stressed that XRP can still fall if the broader market weakens, and stretched losses can stay stretched while a market grinds sideways or lower.
Market impact
The price action cuts against the capitulation signal: XRP is up roughly 8% over seven days and trading near $1.14, among the stronger majors in a week of broader risk-off pressure. The pattern fits a wider setup onchain analysts have been flagging, with large bitcoin wallets accumulating through record spot ETF outflows in a capitulation-and-absorption phase that tends to form near cycle lows. None of it confirms a bottom, but it does suggest selling pressure from underwater XRP holders is largely spent, and the next read is whether fresh buyers keep stepping in.
Frequently asked questions
-
What is MVRV and why does it matter for XRP right now?
MVRV compares XRP's current price with the average price supply last moved at. When the ratio sits below zero, the average holder is underwater. XRP's 30-day reading is near minus 45% and the 365-day version near minus 47%, both record lows according to Santiment.
-
Are XRP holders actually losing money on average?
Yes. With 30-day MVRV near minus 45% and 365-day MVRV near minus 47%, both recent buyers and year-long holders are carrying deep unrealized losses, the steepest combined reading in XRP's history.
-
Is record negative MVRV a confirmed bottom signal for XRP?
No. Santiment calls it a risk-reward entry point, not a price call. Stretched losses can stay stretched while the market grinds sideways or lower, especially if broader crypto weakens further.
-
How has XRP's price behaved while MVRV sits at record lows?
Despite the depressed MVRV readings, XRP is up about 8% over the past week to roughly $1.14, among the stronger majors. That divergence suggests selling pressure from underwater holders may be largely exhausted.
-
How does the XRP setup compare with bitcoin's recent onchain pattern?
Both fit a capitulation-and-absorption phase analysts have been flagging, with large bitcoin wallets accumulating through record spot ETF outflows. That setup has historically formed near cycle lows rather than tops, though it does not confirm a bottom on its own.
Glassnode
CoinTelegraph
Whale Alert
WuBlockchain
CryptoSlate
Crypto News