Glassnode: 36.8B XRP, Nearly 60% of Circulating Supply, Sits at a Loss Near $50.8B

On March 8, Glassnode reported that about 36.8 billion XRP, close to 60% of its circulating supply, is currently held at a loss, implying roughly $50.8 billion in unrealized losses. XRP is trading around $1.34, more than 63% below its July 2025 peak of $3.65, while derivatives volume on platforms such as BitMEX and Binance has surged even as spot activity appears subdued. Analysts remain divided on the next phase of the market cycle, with some highlighting extended consolidation and others warning of a possible retest of price levels below $1.