 
 
Ripple-affiliated XRP could be headed for more losses if bulls fail to mount a sustainable recovery in the near term, with a big chunk of the token’s investors now in the red. Amid recent losses and volatility, 41.5% of the XRP supply is now underwater.
With the XRP price down 8.8% over the past seven days, can the incoming wave of spot exchange-traded funds (ETFs) help the cross-border payments coin overcome this difficult period?
41.5% of XRP Supply Sits in Losses
In an Oct. 17 post on X, analysts from Glassnode noted that the XRP supply currently in profit has dropped to its lowest levels since November 2024, when the fourth-largest cryptocurrency was trading at just 53 cents.
Even though the XRP price is currently trading four times higher than 53 cents, 41.5% of XRP coins are sitting on losses — meaning the token is worth less than what it was purchased for.
Since many investors bought XRP near the top, a further price retrace may force these investors to panic sell, increasing downside pressure. As such, Glassnode believes that the current setup is “structurally fragile.”
 
“Today, despite trading ~4× higher ($2.15), 41.5% of supply (~26.5B XRP) sits in loss — a clear sign of a top-heavy and structurally fragile market dominated by late buyers,” Glassnode wrote.
The XRP price is currently hovering at $2.22 after having gained a paltry 0.5% on the day, according to CoinGecko. The coin is 39% off since hitting its $3.65 all-time high in July 2025.
One catalyst that investors are hoping will help reinvigorate the XRP bulls is the new spot ETFs that are expected to launch across US exchanges this week.
After the Thursday launch of the first spot-XRP ETF by asset manager Canary Capital, which outshined all 900 U.S. ETF launches in 2025 with $58 million in day-one trading volume, there are four other exchange-traded funds from Franklin Templeton, Bitwise, 21Shares, and CoinShares set to go live in a couple of days.