Glassnode Data Shows 60% of XRP Supply Underwater as $50.8B in Investor Losses Mount

• Around 60% of XRP’s circulating supply is currently underwater, according to new on chain data.
• Approximately 36.8 billion XRP are held below their acquisition price, reflecting widespread losses among holders.
• The unrealized deficit across these positions totals about $50.8 billion, highlighting the scale of market pressure.

Recent on chain insights from Glassnode reveal that a majority of XRP investors are currently sitting on unrealized losses.

The data indicates that about 60% of the token’s circulating supply is now held below its acquisition price, signaling widespread pressure across the network as market weakness continues to weigh on investor positions.

Majority of XRP Supply Now in Loss Territory

According to the report, approximately 36.8 billion XRP tokens are currently underwater, meaning they were purchased at prices higher than where the asset is trading now.

This metric highlights how the token’s recent market reversal has impacted a large portion of its holder base. Instead of losses being concentrated among a small group of investors, the data suggests that a broad share of the circulating supply is now positioned below cost.

In total, this underwater supply represents around 60% of all XRP currently in circulation, making it one of the defining signals of current market sentiment.

Paper Losses Reach $50.8 Billion

Beyond the supply imbalance, the report also underscores the financial scale of the losses affecting XRP investors.

Glassnode estimates that the tokens currently underwater represent approximately $50.8 billion in unrealized losses. While these losses remain on paper until positions are sold, the figure illustrates the magnitude of the downturn affecting holders across the network.

Because the losses are unrealized, they reflect the gap between historical purchase prices and current market values, rather than confirmed exits from the market.

Underwater Supply Signals Broader Market Stress

The presence of such a large underwater supply often becomes an important sentiment indicator within cryptocurrency markets.

When a majority of circulating tokens sit below their acquisition price, it can indicate that many investors are waiting for a recovery before selling. This dynamic may contribute to market hesitation, as holders remain reluctant to realize losses.

In the case of XRP, the combination of 60% underwater supply, 36.8 billion tokens in loss territory, and more than $50 billion in unrealized deficits paints a picture of a market experiencing significant pressure.

The latest data from Glassnode shows that the majority of XRP investors are currently in negative territory.

With 60% of the circulating supply underwater and $50.8 billion in unrealized losses, the numbers highlight the depth of the downturn facing XRP holders. While these losses remain unrealized for now, the scale of the deficit illustrates how significantly market conditions have shifted against a large portion of the token’s investor base.