On-chain data shows that the amount of XRP supply underwater has surged to historically high levels following the recent market downturn.
36.8 billion tokens of this asset are currently held at a loss
In the recent one post on X, analytics firm Glassnode shared an update on the latest trend in XRP Total Supply in Loss. This indicator measures, as the name suggests, the total amount of cryptocurrency supply that is currently in a state of unrealized net loss.
The indicator works by checking the history of each coin circulating on the chain to find out at what price it last moved. If the price of the last transaction was higher than the current spot price of any token, then that particular coin is in a loss state. The total loss supply sums up all tokens that meet this condition.
An equivalent indicator called total yield supply takes into account the supply of the opposite type (i.e. coins with a cost lower than the last spot price). Here is a chart shared by the analyst firm that shows the 7-day exponential moving average (EMA) trend of the total supply of XRP in loss over the last few years:
As shown in the chart above, the total supply in XRP losses dropped to a relatively low level in 2025, but the rate increased in the last quarter of the year. The change in trend occurred as the cryptocurrency sector as a whole entered a bear phase.
Today, the total loss supply is worth 36.8 billion XRP. The chart shows that this is a relatively high level compared to the past, exceeded only once in the current cycle.
The picture is slightly different when the indicator is denominated in USD.
As shown in the chart above, XRP Total Supply in Loss USD peaked higher than any seen in the last few years during the latest market downturn. This suggests that the capital invested in the cryptocurrency has increased over the years. Currently, approximately $50 billion worth of supply is in a loss state on the blockchain.
Generally speaking, digital asset markets tend to hit bottoms when investor concerns are greatest. Therefore, given the current loss situation on the XRP network, it remains to be seen whether the coin will bottom out in the near future.
XRP price
At the time of writing, XRP is trading around $1.35, down over 0.5% in the last 24 hours.
