According to the chain’s latest data, XRP kits continue to accumulate even as a large portion of the token’s supply remains underwater.
Conclusion
- On-chain data shows that roughly $50 billion in XRP supply remains in the red, even as large holders rally.
- Exchange data shows that millions of XRP have recently been moved from trading platforms, suggesting that whales may be moving into long-term storage.
- XRP was trading at $1.35 at press time, down 0.1% in the last 24 hours, as the market digests mixed signals between a rally in whales and underwater holders.
XRP coins are quietly piling up as $50 billion in reserves remain underwater
Analysis from Glassnode shows that the total supply of XRP (XRP) has recently reached a loss of $50 billion, meaning that the tokens currently held by investors have been acquired at prices below today’s market value.
The metric tracks the total dollar value of coins whose most recent chain move exceeded the current price.
A high level of unrealized losses suggests that much of the market remains underwater—a situation that often occurs near cyclical bottoms as weaker holders give up.
Against this backdrop, stock flow metrics point to another trend among big investors, with sharks quietly gathering.
The exchange’s net position change tracking data shows that millions of XRP have left trading platforms in recent days, including a single-day outflow of about 35.6 million XRP on March 6, according to chain analytics panels.
Exodus from exchanges is often interpreted as a sign of accumulation, as investors tend to withdraw tokens to keep them in private wallets rather than for immediate sale.
Some analysts have cited the recent moves as a signal that major owners are positioning themselves for a potential rally.
In a widely circulated post on X, a crypto analyst stated that “XRP WHALES GOING BALLISTIC! 3.56 million XRP disappeared from exchanges in 24 hours” and stated that “the smart money is hoarding XRP”, hinting at the possibility of a price increase in the future.
However, the price action is muted for now. According to market data, XRP was trading at $1.35 at press time, down 0.1% over the past 24 hours.
The difference between underwater supply and shark accumulation may reflect a classic crypto market dynamic: while many retail investors remain in losing positions, larger players often accumulate during periods of weak sentiment in anticipation of future upside.
Whether or not the exchange’s recent breakout will translate into sustained price momentum remains uncertain, but on-chain signals suggest that at least some large investors are quietly increasing their exposure to XRP.
