XRP has had difficulty maintaining consistent bullish momentum since hitting a cycle high of $3.40 on January 16, 2025. Over the last three months, XRP has plummeted by as much as 46%. Nevertheless, recent data reveals that 81.6% of XRP’s circulating supply is still in profit, despite this pullback.
Although the percentage of profit supply has decreased from its year-to-date peak of 92%, this figure underscores the retention value for holders amid recent market corrections.
Currently, only Tron (TRX) boasts a higher profit supply at 84.6%, while Bitcoin (BTC), Ether (ETH), and Solana (SOL) present percentages of 76.8%, 44.9%, and 31.6%, respectively.
Market Sentiment among Korean Traders
Korean traders were pivotal in purchasing the initial dip of XRP below $2 on February 3. On platforms like Upbit and Bybit, investors placed their bids below this threshold, helping lift XRP’s value back to $2.89 by February 13.
However, recent sentiment has shifted. An unnamed market analyst noted that Korean traders executed 1.4 million trades on the XRP/KRW pair, with 62% of those being sell orders, culminating in a net sale of $120 million in XRP over April 6-7.
This data reflects a pattern of significant selling pressure from both long-term investors and newcomers as "retail confidence" in XRP continues to wane. Last week, it was reported that over $1 billion in positions had been liquidated at an average price of $2.10.
XRP’s higher time frame chart recently fell below the crucial $2 support level, reaching a new yearly low of $1.61 on April 7, but it did manage to reclaim that important level on April 9. Even if XRP remains above $2, the price trend indicates a bearish market structure across various time frames.
As shown in the accompanying chart, XRP may close a daily candle below its 200-day moving average (represented by the orange line), potentially leading to an extended correction in the coming weeks. The key demand zone appears to be between $1.63 and $1.27 (denoted by the blue box), where the altcoin could enter a phase of accumulation.
This article does not provide investment advice or recommendations. Every investment and trading decision involves risk, and readers are encouraged to conduct their own research before acting.