As XRP falls below $1.60, on-chain analytics firm Glassnode has highlighted that its current structure is similar to that of April 2022.
XRP is rapidly approaching its realized price
In a new after On X, Glassnode discussed where XRP is currently trading in terms of its realized price. This on-chain indicator measures the cost basis or purchase price of the average address on the blockchain. When the spot price of the cryptocurrency trades above this benchmark, it means that it can be assumed that the investors as a whole are in a state of profit. On the other hand, the fact that the indicator is below the indicator indicates that most of the supply is underwater.
Here is the chart shared by Glassnode showing the trend in XRP realized price over the past few years:
As visible in the chart above, the XRP spot price has been above the realized price since 2024, indicating that holders have enjoyed net unrealized gains. However, the degree of profitability has not been constant during this period. The asset’s price showed the widest divergence against the benchmark at the end of 2024, following a rapid bull rally. Subsequently, profitability gradually declined over the first three quarters of 2025 as tokens changed hands at higher levels, leading to an increase in realized price.
The indicator reached a plateau in the last quarter of the year, but the bearish shift in assets meant that it was now the price’s turn to approach the line, causing average investor profits to fall further. This trend has deepened recently. After last week’s industry-wide crash, XRP has come dangerously close to its realized price, which now stands at $1.48.
“The current market structure is very similar to that of April 2022,” the analysis firm said. At the time, the asset was in transition to a bear market and the price fell to the realized price. That retest failed, and what followed was a steep decline that eventually led to the low point in the cycle.
Given the closeness of the current
In the scenario that the cryptocurrency’s decline continues, analysts point to technical support levels Ali Martinez can play a role.
As shown in the chart, Martinez has drawn levels based on a parallel channel pattern. “For XRP, resistance is at $1.86, while support is at $1.38 and $1.02,” the analyst said.
XRP price
At the time of writing, XRP is trading around $1.60, down nearly 15% in the past week.