In an X post, Glassnode researchers highlighted that the 90-day moving average (MA) of the altcoin\u2019s Realized Profit-to-Loss Ratio has fallen to an area historically associated with deeper downtrends and periods of market capitulation.<\/p>\n
Notably, the key metric has dropped to 0.38, its lowest level since 2024, meaning that for every dollar of losses realized in the market, only 38 cents in profit are being taken. This marks a significant reversal from the 2025 peak, when the ratio surged to 50, indicating profit-takers outpaced loss-sellers by a factor of 50.<\/p>\n
![\"XRP\"](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/06\/HKYGEtFW8AApwQQ.jpeg?w=860&resize=860%2C484\")
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That dynamic has now fully inverted, Glassnode affirmed, adding that a ratio this low suggests that most participants moving XRP are exiting their positions at a loss, which is \u201ca hallmark of intense capitulation.\u201d<\/p>\n
In addition, the blockchain analytics firm pointed out that network activity has declined significantly. According to the data, the 90-day average of total transaction fees paid on the XRP network has fallen from 5,900 XRP in February 2025 to just 500 XRP, representing a 91.5% drop.<\/p>\n
\u201cA drop of this magnitude is not a fee market adjustment. It reflects a near-total contraction in organic transaction demand on the network since the speculative peak,\u201d Glassnode affirmed.<\/p>\n
The drop in these indicators suggests investor confidence has weakened, and the market has shifted to reduced speculative appetite with subdued participation.<\/p>\n
Is XRP\u2019s Bottom Near?<\/h2>\n
Over the past two weeks, XRP\u2019s price has retraced nearly 15%, falling to its lowest levels since November 2024. Amid this performance, analyst ChartNerd noted that the cryptocurrency\u2019s bear markets have historically lasted 400-790 days with 85-96% drops.<\/p>\n
Currently, the altcoin has only corrected<\/a> for approximately 350 days, with a 71% retracement from the July highs. However, \u201cthe duration and % depth of these bears are diminishing over time; therefore, the territory for marking a historical bottom between now and EOY is fast approaching,\u201d he stated.<\/p>\n He also observed that the altcoin closed below its 200-week Simple Moving Average (SMA) last week, which could also signal that the bottom may be on the horizon. As he explained<\/a>, during prior cycles, a structural bottom formed between 8 and 29 weeks after the first weekly close below this SMA, suggesting that XRP could begin forming its bottom in the coming months, if history repeats.<\/p>\n
![\"XRP,](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/06\/XRPUSDT_2026-06-09_15-05-32.png?w=860&resize=860%2C563\")
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