XRP Falls Below $2 — Evernorth Hits $225M Unrealized Loss as Spot ETFs Keep Accumulating
XRP has dropped below $2 to around $1.80, turning Evernorth’s Oct–Dec 2024 accumulation (388.7 million XRP purchased for about $947.1m) from a roughly $71m unrealized profit into an approximately $225m unrealized loss, according to CryptoQuant on‑chain data. The decline reflects sustained selling pressure from retail traders and whale holders that has outpaced institutional buying. Despite the weakness, XRP spot ETFs continue to record steady net inflows, pushing combined assets above $1.25 billion and signaling ongoing institutional interest. Market indicators (TradingView, Sosovalue) show negative capital flow metrics (capital flow ≈ -42, strength ≈ -14) and a red Accumulation/Distribution Money Flow, suggesting sellers remain dominant. Analysts warn that continued selling could push XRP toward $1.50, while a sustained recovery requires institutions to reclaim and hold $2 as support. For traders: monitor ETF inflows and outflows, large on‑chain transfers and whale activity, volume spikes, and whether XRP can retake $2 — these signals will help gauge short‑term downside risk versus medium‑ to long‑term accumulation opportunities.
Bearish
Price action and on‑chain metrics point to a bearish near‑term outlook for XRP. Evernorth’s large unrealized loss signals vulnerability among significant treasury holders who may be pressured to sell if prices fall further. Negative capital flow indicators and a red Accumulation/Distribution Money Flow show sellers (retail and whales) have dominated since late November. Although spot ETF inflows and rising institutional assets (> $1.25B) provide a countervailing demand signal, current inflows have not offset broader selling pressure. In the short term, continued selling and failure to reclaim $2 would likely drive price toward the $1.50 area. In the medium to long term, sustained ETF accumulation and institutional buying could support a recovery, but only if institutions begin to hold $2 as a new support level and on‑chain selling subsides. Traders should therefore treat the situation as high‑risk: monitor ETF flows, large transfers, and volume for signs of capitulation or institutional absorption before shifting to a bullish stance.