Ah, dear reader, gather ’round as we embark on yet another chapter of the illustrious saga known as XRP. Our protagonist, having flitted below its aggregate holder cost basis, now exhibits a stress pattern so familiar that one could almost hear the sighs of resignation echoing through the halls of cryptocurrency aficionados. The ever-watchful Glassnode has noted this troubling descent, which, in the annals of history, has often heralded not just capitulation but a veritable parade of loss realization, leading us on a slow, meandering path toward what they charmingly call ‘stabilization’-as if chaos were simply a prerequisite for order!
In a recent proclamation dated February 9, those wise sages at Glassnode have solemnly declared that XRP has lost its aggregate holder cost basis, an event that sparked a delightful frenzy of panic selling. One can only imagine the frantic keyboard tapping as traders, like squirrels in winter, scurried to unload their assets amidst a sharp decline in spent output profitability. With SOPR tumbling from a buoyant 1.16 in July 2025 to a precarious 0.96 ‘now’-oh, the drama!-they suggest that holders are now realizing losses of significant magnitude, while on-chain profitability takes a somber turn into the negative.
A SOPR reading below 1, my friends, is typically interpreted as a sign that our market denizens are spending their coins at a loss-a rather quaint phenomenon, wouldn’t you agree? This condition may persist until sellers, forced to flee like rabbits from a hound, make way for buyers who possess a more long-term vision-those optimistic souls who see potential in the rubble. Glassnode, in their insightful musings, posits that our current scenario bears a striking resemblance to the tumultuous period between September 2021 and May 2022, when SOPR languished below 1, leading to a drawn-out consolidation before stabilization ensued. How poetic!
But fret not, for the February 9 revelation is but one note in this grand symphony. Earlier, on February 1, our analytical friends observed that “The XRP Realized Price is trading at $1.48,” further likening today’s market structure to that of April 2022. It seems the echoes of yesteryear are ever-resonant, with XRP’s trajectory resembling the fateful days of February 2022, where newer investors, bless their hearts, found themselves accumulating below the cost basis of their more seasoned counterparts.
Will XRP Capitulate or Simply Stumble?
Amidst this turmoil, some market participants have chosen to interpret the sub-1 SOPR regime not as a harbinger of doom but rather as a charming transfer of supply from the trembling hands of novices to those of seasoned veterans. One astute observer, @investorie, boldly proclaimed it a classic capitulation signal, not a structural failure. “SOPR below 1 means weak hands are exiting at a loss,” they noted sagely, suggesting that such pressure is absorbed, paving the way for resilient foundations rather than the end of all trends. What optimism!
Another thoughtful respondent, 0xsimba, drew parallels to Bitcoin‘s own episodes of forced selling while echoing Glassnode’s historical observations: “When SOPR drops below 1 for an extended period, pain transfers from weak to strong hands. Sep 2021-May 2022 precedent, prolonged consolidation then recovery. Setup is forming. Signal needs confirmation.” Ah, the sweet scent of speculation! If only we had a crystal ball!
If the musings of Glassnode prove prophetic, our takeaway is less about a singular moment of reckoning and more about whether XRP remains ensnared in this regime of loss realization long enough to tire out the hapless marginal sellers. Only then might we witness the glorious return of stability, assuming profitability metrics cease their dismal decline and SOPR can once again reclaim that elusive break-even line.
As of this writing, XRP finds itself trading at a modest $1.4225-a mere fraction of the epic tale it promises to unfold. Stay tuned, dear reader, for the drama continues!
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2026-02-10 15:16