$XRP has surged over 500% in just nine months, climbing from $0.40 to $3.09. This explosive rally isn’t just about price—it also reflects alarming on-chain signals. According to Glassnode, 93.92% of XRP’s circulating supply is now in profit—a level that has historically aligned with major cycle tops.
🔎 Looking Back: What Does 90%+ Profitability Indicate?
2018: XRP peaked at $3.30 when over 90% of supply was in profit. A 95% crash followed.
2021: At a similar profitability level, XRP topped at $1.95, then dropped 85%.
Today, with 94% of supply in profit, the risk of increased selling pressure looms large.
📊 NUPL (Net Unrealized Profit/Loss) Signals
XRP’s NUPL has entered the “belief-denial” stage:
In 2017, this zone coincided with XRP’s record high of $3.30.
In 2021, NUPL > 0.5 marked the $1.95 peak.
Currently, investors are sitting in strong profits but not yet at peak euphoria. If NUPL climbs into the “greed” zone, a sell-off could ignite.
⚠️ Technical Outlook: Bearish Triangle Risk
XRP is consolidating in a descending triangle with key support at $3.05.
If support breaks: A close below $3.05 could trigger a drop to $2.39 (-23.5%).
If resistance breaks: Bulls could push XRP towards $6.
🚀 Big Picture: Could XRP Hit $30?
Some analysts remain highly bullish, eyeing targets between $15–$30, fueled by:
Strong institutional demand,
ETF/regulatory catalysts,
A full-blown altcoin season.
📝 Final Takeaway
Bullish case: NUPL and profitability suggest the bull market isn’t over.
Bearish case: Extreme profitability has historically marked cycle tops.
Key level: $3.05 support. Holding above could lead to new highs, but losing it risks sharp downside.
👉 Right now, XRP stands at a crossroads where opportunity and risk walk hand in hand.
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