Data on the chain shows that the amount of XRP supply sitting underwater has reached a historic high since the recent market downturn.
36.8 billion asset tokens are currently held at a loss
In a new post on X, blockchain analytics company Glassnode shared an update on the recent trend of XRP Total Supply in Loss. This metric, as the name suggests, measures the total supply of a cryptocurrency that is currently in a state of net unrealized loss.
The indicator works by checking the chain history of each coin in circulation to determine what price it was last traded at. If the last transaction price is higher than the current price of each token, that coin is in a lost state. Total loss insurance collects all the symptoms that satisfy this condition.
A benchmark called Total Supply in Profit takes care of the supply of the opposite type (i.e. coins with a value lower than the last spot price). Now, here’s a chart shared by the analytics firm that shows the trend of XRP’s 7-day exponential moving average (EMA) total supply loss over the past few years:
As shown in the graph above, XRP Total Supply in Loss fell to a relatively low level in 2025, but the metric rose in the last quarter of the year. The trend reversal came at a time when the cryptocurrency sector as a whole saw the beginning of a bearish phase.
Today, the total loss supply is 36.8 billion XRP. As can be seen from the chart, this is a relatively high level compared to the past and has only been exceeded once in the current period.
When the indicator is expressed in US dollars, the picture is slightly different.
As shown in the chart above, the dollar version of XRP Total Supply in Loss posted a peak higher than any witnessed in the last few years during the recent market downturn. This indicates that the capital invested in cryptocurrency has increased over the years. Currently, the supply of about 50 billion dollars on the blockchain is in a state of loss.
In general, digital asset markets tend to go down when investor pain is at its highest. Thus, given the current state of losses 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 floating around $1.35, down more than 0.5% in the last 24 hours.
