Data Shows XRP Profit-Taking Volume Peaks

XRP profit-taking volume by long-term holders reached a yearly peak, mirroring distribution trends from December 2024.

XRP ended July on a bearish note after hitting $3.66 earlier. While August saw some recovery, recent data from Glassnode identified profit-taking activities contributing to the late-July crash.

XRP Profit-Taking Volume Hits $375M

Glassnode reported significant profit-taking among investors of top crypto assets, linking the recent downturn to trades that totaled $375M. This was XRP’s largest profit-taking volume this year and resembled the distribution during December 2024’s rally, where XRP increased nearly 290%.

Following the July 24 volume peak, XRP struggled before a 13.2% drop by August 2. Although it recovered somewhat, Glassnode suggests that this dip below $3 aligns with profit-taking activities.

XRP Address Profitability Remains High

A previous Crypto Basic report stated that over 90% of XRP addresses were profitable, with profits hitting 94% as XRP remained above $3. This high profitability could fuel further profit-taking, leading to the recent drop. However, positive factors indicate that XRP has shown resilience compared to past instances of similar trades.

Despite the pullback, trader Xaif Crypto noted that 93% of XRP addresses remain in profit, supported by Santiment data, reflecting a steady average profitability of 90% since July. This trend highlights potential for increased profit-taking in the future.

XRP Address Profitability | Santiment