As XRP slides below $1.60, on-chain analytics firm Glassnode highlighted how the current structure resembles that of April 2022.
XRP is rapidly approaching its realized price
In a new article on X, Glassnode explained where XRP is currently trading in relation to its realized price. This on-chain indicator measures the cost basis or price of acquiring the average address on the blockchain. When the cryptocurrency spot price trades above this metric, it means that investors as a whole can be assumed to be in a profit situation. On the other hand, the fact that it is below the indicator suggests that the majority of the supply is underwater.
Now here is the chart shared by Glassnode which shows the trend of the realized price of XRP over the last few years:
As shown in the chart above, the spot price of XRP is above the realized price since 2024, indicating that holders have benefited from net unrealized gains. The degree of profitability, however, has not been constant during this period. The asset price had the largest deviation from the indicator at the end of 2024, due to a rapid bullish rally. Then, over the first three quarters of 2025, profitability gradually fell as tokens changed hands at higher levels, causing the realized price to increase.
The indicator reached a plateau during the last quarter of the year, but the bearish change in the asset means that it is now the price’s turn to move closer to the line, further reducing average profits for investors. This trend has increased recently. Following the sector-wide crash over the past week, XRP has moved dangerously close to the realized price, which now sits at $1.48.
“The current market structure is very similar to that of April 2022,” noted the analytics company. At the time, the asset was transitioning into a bear market and its price fell to the realized price. This retest failed, and what followed was a sharp decline that ultimately led to the bottom of the cycle.
Considering how close the current XRP price is to the indicator, it now remains to be seen whether a retest will take place in the near future and whether it will lead to further bearish actions like in 2022.
In the event that the cryptocurrency’s decline continues, the technical support levels highlighted by analyst Ali Martinez could come into play.
As the chart shows, Martinez drew levels based on a parallel channel pattern. “For XRP, resistance lies at $1.86, while support is at $1.38 and $1.02,” the analyst noted.
XRP Price
At the time of writing, XRP is trading around $1.60, down almost 15% from last week.
