XRP holders are increasingly selling at a loss, which is a classic sign of market capitulation.
The 90-day moving average of XRP’s realized profit-to-loss ratio has plummeted to 0.38, according to data tracked by Glassnode.
That means that for every dollar of loss that investors are suffering right now, they are making only 38 cents of profit. Essentially, the majority of currencies traded on the blockchain are underwater.
The situation marks a reversal from the 2025 peak, when the ratio hit 50. At that time, takers outnumbered loss sellers by a staggering 50 to 1.
A ratio this below 1 is widely considered a hallmark of capitulation, a market phase in which exhausted holders finally throw in the towel and sell, often after enduring the prolonged pain of holding losing coins. It reflects intense fear or forced selling in the market.
While capitulation does not always mark the exact bottom, 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% on the year, according to data from CoinDesk. Prices peaked at over $3.60 last July.
