81.6% of XRP supply is in profit, but traders in Korea are turning bearish — Here is why
XRP peaked at $3.40 on January 16, 2025, but has since dropped 46% over three months. Despite this decline, 81.6% of XRP's circulating supply remains profitable, down from a year-to-date high of 92%. Tron (TRX) has a higher profitable supply at 84.6%, while Bitcoin (BTC), Ether (ETH), and Solana (SOL) show 76.8%, 44.9%, and 31.6%, respectively. Korean traders initially bought XRP below $2, pushing its value to $2.89 by February 13. However, recent data indicates a bearish sentiment, with 62% of trades being sell orders, resulting in a net sale of $120 million in XRP from April 6-7. XRP fell to a yearly low of $1.61 on April 7 but reclaimed the $2 level by April 9. The market structure remains bearish, with potential prolonged corrections if it closes below the 200-day moving average. Key demand zones are identified between $1.63 and $1.27 for possible accumulation.
