XRP Approaches $1.92 as Almost 50% of Supply Falls into Losses

Current Price and Market Trends: XRP is trading around $1.92, with nearly half of its circulating supply now at a loss, as it struggles to break the $1.94 resistance level and remains in a six-week downtrend.

Profitability Decline: On-chain metrics indicate that XRP's supply in profit has decreased to 52%, a significant drop that mirrors conditions seen during previous extended drawdown periods.

Impact of Large Holders: The top 1% of addresses control 87.6% of XRP's total supply, and their selling activity is contributing to the downward pressure on prices, especially in a weak demand environment.

Recovery Risks: Historical data suggests that when XRP's supply in profit falls below 50%, there is an increased risk of further declines, with a need for renewed demand to support any potential recovery above the $2.00 mark.