XRP holders are increasingly selling at a loss, a classic sign of market capitulation.
The 90-day moving average of XRP’s profit-to-loss ratio plunged to 0.38, according to data tracked by Glassnode.
This means that for every dollar of loss investors currently make, they only make 38 cents in profit. Essentially, most of the coins traded on the blockchain are underwater.
The situation marks a reversal from the 2025 peak, when the ratio reached 50. At that time, profit-takers were crushing loss-making sellers by a staggering 50-to-1.
A ratio this below 1 is widely considered a mark of capitulation, a market phase where exhausted holders finally throw in the towel and sell, often after enduring the prolonged pain of holding coins at a loss. This reflects intense fear or forced selling in the market.
Although capitulation does not always mark the exact low point, it frequently appears near exhaustion points in downtrends. For XRP traders, this could mean that the bear market is in its final stages.
The payments-focused cryptocurrency was trading at around $1.11 at press time, down nearly 40% year-over-year, according to CoinDesk data. Prices peaked above $3.60 last July.
