81.6% of XRP supply is in profit, but traders in Korea are turning bearish — Here is why

XRP has struggled to search out sustained bullish momentum since reaching its cycle peak at $3.40 on Jan. 16, 2025. XRP (XRP) dropped as a lot as 46% over the previous three months, however regardless of its current drawdown, Glassnode information indicates that 81.6% of XRP’s present circulating provide stays in revenue.

Whereas the revenue provide share is down from its year-to-date excessive of 92%, the info set highlighted the retention worth for holders regardless of the current corrections.

Cryptocurrencies, Ripple, XRP, Markets, Price Analysis — *Proportion Provide in Revenue for XRP, BTC, SOL ETH, TRX. Supply: X.com*

At present, solely Tron (TRX) has the next worthwhile provide with 84.6%, whereas Bitcoin (BTC), Ether (ETH) and Solana (SOL) exhibited 76.8%, 44.9% and 31.6%, respectively.

Analyst says Korean XRP merchants are bearish

Knowledge exhibits merchants in Korea played a big position in shopping for the primary XRP dip beneath $2 on Feb. 3. Traders on Upbit and Bybit alternate stuffed their bids beneath $2, pushing the altcoin’s worth again to $2.89 on Feb. 13.

Nonetheless, the sentiment has flipped over the previous few days. Nameless market analyst Dom pointed out that Korean merchants executed 1.4 million trades on the XRP/KRW pair, with 62% being promote orders, leading to a internet sale of $120 million in XRP between April 6-7.

The info follows a development of heavy promoting from long-term whales and new traders as “retail confidence” in XRP continues to slide. Final week, Cointelegraph reported over $1 billion in positions being offloaded at a median worth of $2.10

Associated: XRP price gains 13% after Trump 90-day tariff pause and XXRP ETF launch

XRP’s greater time-frame (HTF) chart misplaced its $2 assist, dropping to a brand new yearly low of $1.61 on April 7, however the altcoin managed to reclaim this crucial stage on April 9. Even when XRP holds the $2 stage, the worth displays a bearish market construction on a number of time frames.

As illustrated within the chart, XRP will doubtlessly shut a day by day candle beneath its 200-day shifting common (orange line), resulting in a protracted correction interval over the following few weeks. The important thing demand zone stays between $1.63 and $1.27 (blue field), the place a interval of accumulation may unfold for the altcoin.

This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails danger, and readers ought to conduct their very own analysis when making a choice.