XRP’s $1 rebound faces holders trapped above $2
XRP remains below key holder cost bases. Glassnode data puts the 6-to-12-month cohort’s average cost near $2.22, the 1-to-2-year cohort near $1.89, and XRP’s aggregate realized price at $1.36, versus spot around $1.08. The most recent buyers are near breakeven at about $1.09-$1.11, while broader holder profitability is weak, with aggregate NUPL around -0.252. Perpetual funding is mixed, showing no clear market consensus: on July 12, four venues were negative and four positive, with a 2.6-basis-point spread from Kraken to Bitget/Huobi. XRP derivatives still dominate activity, with about $1.7 billion in 24-hour futures volume versus roughly $290 million in spot volume and open interest near $2.3 billion. A move above $1.11 would put recent buyers in profit, while $1.36 would begin improving the broader holder base. A break below $1 would deepen losses for recent buyers and could pressure both long- and short-biased positions.
