XRP capitulation surges as 90-day profit/loss hits 0.38
On-chain firm Glassnode says XRP capitulation is intensifying after XRP’s 90-day realized profit/loss ratio fell to 0.38. This implies investors realize $0.38 in profit for every $1 in losses (i.e., about $2.63 of losses per $1 of realized profit), far below the 1.0 equilibrium line and nearly reversing the ~50 ratio seen at XRP’s 2025 peak.
Glassnode links the XRP capitulation signal with weaker XRPL demand. XRPL fees (90-day moving average) dropped from ~5,900 XRP/day in Feb 2025 to ~500 XRP/day, down 91.5%. Loss realization is also confirmed by SOPR, which slipped from ~1.16 in July 2025 to 0.96 in early 2026, breaking below the 1.0 breakeven level.
The data further shows stress in the holder base: about 41.5% of circulating XRP (~26.5B tokens) is held at a loss, and 62.8% of realized cap sits with holders who entered within the past six months—described as “top-heavy” and fragile. Glassnode cautions that this confirms capitulation intensity but does not prove a durable bottom; traders will watch for fee stabilization and easing loss-driven selling alongside any rebound.
(For context: XRP is around $1.11, down nearly 40% YTD and well below the July high above $3.60.)
Neutral
The news is effectively a capitulation confirmation for XRP: realized profit/loss has collapsed to 0.38, SOPR broke below 1.0, and a large share of supply is held at a loss. That can be mildly supportive for later stabilization if selling pressure truly exhausts. However, Glassnode also warns it does not prove a completed bottom, and the concurrent 91.5% drop in XRPL fees suggests ongoing demand/usage weakness. For traders, this raises the probability of continued volatility and “false bottoms” in the short term, while longer-term mean-reversion only improves if fees stabilize and loss-driven selling eases.