On-chain data shows that the amount of submerged XRP supply has skyrocketed to historically high levels following the recent market crash.
Currently, 36.8 billion tokens of the asset are held at a loss
in a new mail On X, on-chain analytics company Glassnode has shared an update on the latest trend in XRP Total Supply in Loss. This metric measures, as the name suggests, the total amount of cryptocurrency supply that is currently in a state of net unrealized loss.
The indicator works by checking the on-chain history of each coin in circulation to find the price at which it last moved. If the last transaction price was higher than the current spot price of any token, then that particular coin is in loss status. The total supply in loss adds up all the tokens that meet this condition.
A counterparty indicator called Total Bid at Profit deals with the bid of the opposite type (i.e. coins with a cost basis lower than the last spot price). Now, here is the chart shared by the analytics firm showing the trend in the 7-day exponential moving average (EMA) of the total losing supply of XRP over the past few years:
As shown in the chart above, the total supply loss of XRP fell to a relatively low level in 2025, but in the last quarter of the year, the metric increased. The trend reversal came as the cryptocurrency sector as a whole saw the start of a bearish phase.
Today, the total losing supply is worth 36.8 billion XRP. You can see from the chart that this is a relatively high level compared to the past, as it has only been exceeded once in the current cycle.
The picture is a little different when the indicator is denominated in USD terms.
As shown in the chart above, the dollar version of the XRP Total Supply in Loss set a higher peak than any seen in recent years during the last market downturn. This suggests that the capital invested in the cryptocurrency has increased tremendously as the years have passed. Currently, around $50 billion worth of supply is in a state of loss on the blockchain.
In general, digital asset markets tend to bottom out when investor pain is greatest. As such, considering the current loss situation on the XRP network, it only remains to be seen if the coin will bottom out in the near future.
XRP Price
At the time of writing, XRP is trading around $1.35, down more than 0.5% in the last 24 hours.
