Crypto: Market Xrp Flashes Signal That Last Triggered 68% Price Drop

A bearish signal from XRP’s cost-basis metric projected a major price drop, fueled by a weakening technical structure and spot ETF outflows. Will bulls defend critical price support?

XRP’s (XRP) onchain market structure resembles a setup that led to significant losses in 2022 after the price lost a key support level.

XRP's onchain structure mirrors the February 2022 setup that led to a 68% price drop.

XRP bulls must reclaim $2 to avoid a deeper correction toward $1.10.

XRP spot ETFs recorded a net outflow of $53.32 million, their second-ever day of outflows and the largest since launch.

Data from Glassnode warned that XRP’s current market structure “closely resembles that of February 2022,” an occurrence that ultimately preceded months of weakness.

“XRP investors active over the 1W–1M window are now accumulating below the cost basis of the 6M–12M cohort,” the market intelligence company wrote in a recent post on X.

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This creates a scenario where newer buyers are in profit, while mid-term holders sit on losses. This gap creates overhead pressure over time if key support levels are not reclaimed.

A similar pattern was seen in February 2022 when XRP was trading at $0.78, which led to a 68% drawdown to $0.30 by June 2022.

Source: CoinTelegraph