XRP’s $1 rebound faces holders trapped above $2

A notable development has hit the crypto markets. Glassnode reported that XRP holders who bought between 6 and 12 months ago have an average cost basis near $2. 22, roughly 52% above the token's price of $1. 08 on July 14, and far above the $ 1.

11 realized price for coins bought in the past month. XRP perpetual funding spanned a 2. 6-basis-point range as of July 12, running from -0.

Market Dynamics

016% on Kraken, through -0. 003% on Coinbase, -0. 002% on Bybit and Crypto.

com, and roughly 0% on Binance, up to +0. 006% on Hyperliquid, and +0. 010% on Bitget and Huobi.

How far underwater each cohort sits Glassnode calculates realized price as the average price at which the circulating supply last moved on-chain, with the duration of each cohort's holding tracked separately. The one- to two-year cohort has a realized price near $1. 89, about 43% below the current spot price and roughly 77% short of breakeven.

Market Impact

The 6-to-12-month cohort needs about 107% from here to reach its $2. 22 average cost, while XRP's aggregate realized price is $1. Glassnode's aggregate NUPL reading, which measures unrealized profit against unrealized loss across the tracked supply, sat near -0.

252, meaning losses outweigh gains across the token's entire holder base. A chart shows XRP holder cost bases from $1. 22, all above the $1.

07 spot price, ranging 2% to 107% higher. The funding rate is a periodic payment between long and short positions, moving from longs to shorts when the rate runs positive and reversing direction when it runs negative, a mechanism meant to keep perpetual futures prices tethered to spot. The eight venues tracked by CoinGlass split evenly on July 12, four negative and four positive, with no shared directional lean across the market.

Crypto markets are watching this development closely as investors weigh its potential impact on prices.