Add ZyCrypto News On Google
The XRP market has entered a sensitive phase, with a large portion of holders now underwater, raising questions about whether the asset is approaching capitulation or preparing for its next cycle.
On-chain data from Glassnode shows that roughly 36.8 billion XRP are currently held at a loss. Measured in dollar terms, those unrealized losses amount to approximately $50.8 billion at current prices.
Glassnode analysts say the situation reflects a broader shift in market sentiment. XRP recently lost its aggregate holder cost basis, a key psychological level that often triggers stronger selling pressure.
The network’s Spent Output Profit Ratio indicator, measured using a seven-day exponential moving average, has dropped from 1.16 in July 2025 to around 0.96 today. That reading indicates that many investors are now selling their coins at a loss rather than profit, flipping overall on-chain profitability into negative territory.
That said, market commentator EGRAG says previous cycles have typically ended through either price-based or time-based capitulation. Price-based capitulation involves a sharp and rapid percentage drop that quickly flushes out weak holders. By contrast, time-based capitulation unfolds through prolonged sideways consolidation, gradually draining market momentum before the next upward move.
Despite recent weakness, one market watcher revealed that the largest XRP exchange-traded fund in the United States now leads a market with total ETF assets tied to the token that have surpassed $1 billion. Meanwhile, Ripple has expanded its institutional infrastructure, as Ripple Prime recently joined the Depository Trust & Clearing Corporation (DTCC) clearing system.
Some industry projections envision cross-border payment flows on XRP infrastructure reaching $10 trillion by 2030. But for now, the market is focused on whether current losses trigger deeper capitulation or mark the final stages of consolidation before the next expansion cycle.
Prefer Us On Google
Source: https://zycrypto.com/ripple-bulls-enter-crucial-phase-as-cross-border-payment-on-xrp-projected-to-reach-10-trillion-by-2030/
