On-chain data shows that the main buyers of XRP still maintain a net profit of 11%. Here is a comparison with other top cryptocurrencies like Bitcoin and Solana.
XRP's top buyers are currently the only ones in profit.
In a new post on X, on-chain analytics firm Glassnode discussed how top buyers are searching for different top digital assets.
The metric worth paying attention to is the 'realized price,' which tracks the cost basis or acquisition level of ordinary investors on a specific cryptocurrency network. When the value of this metric is above the asset's spot price, it can be assumed that holders are overall in a net unrealized loss position. Conversely, when the value of this metric is below the token price, it indicates that profits dominate the network.
In the context of the current discussion, the actual price of the entire user base is not important; what matters is the actual price of a specific segment: investors entering during the early excitement phase from December 2024 to January 2025.
Starting today, this period aligns with a holding period of 3 to 6 months, so Glassnode referenced the average cost basis of these mid-term holders. First, the chart below shows the actual price of XRP for this group:
As shown in the chart above, the actual price for investors holding XRP for 3 to 6 months is currently significantly lower than the spot price of this cryptocurrency. Of course, at least some top buyers should have already thrown in the towel by this time, but it seems that those who continue to hold appear to be relatively comfortably obtaining an 11% profit margin.
While this may be the case for XRP's mid-term holders, the trend is different for holders on other major networks. As shown in the figure below, the cost basis of Solana's 3 to 6-month old coins is currently above the spot price.
More specifically, the mid-term investors in SOL are holding about 28% of net unrealized losses. The situation is worse for Ethereum, where the group has losses of about 36% on the blockchain.
Even for Bitcoin, this group is incurring losses, although the profit margin for the top-ranked cryptocurrency is only 1%.
XRP Price
As of the writing of this article, the price of XRP fluctuates around $2.13, having dropped nearly 4% in the past seven days.
