81.6% of XRP Supply in Profit, Yet Korean Traders Turn Bearish

Despite a large portion of XRP supply being in profit, a growing wave of investors—especially in South Korea—are taking a bearish stance on the token.

Since peaking at $3.40 on January 16, 2025, XRP has struggled to maintain upward momentum. The asset has dropped 46% over the past three months. However, data from Glassnode reveals that 81.6% of XRP’s circulating supply remains profitable.

While that’s down from the year’s high of 92%, the numbers suggest long-term holders still retain value despite recent market corrections.

Picture 81.6% of XRP Supply in Profit, Yet Korean Traders Turn Bearish 2 | TON app

XRP Leads in Profitable Supply Among Major Cryptos

Among top cryptocurrencies, only Tron (TRX) shows a higher profitable supply, with 84.6%. In comparison, Bitcoin (BTC), Ether (ETH), and Solana (SOL) stand at 76.8%, 44.9%, and 31.6% respectively.

These stats reinforce XRP’s relative resilience despite short-term price declines, indicating a considerable share of holders are still above water.

Korean XRP Traders Flip Bearish After Heavy Selling

Market data reveals Korean traders were pivotal during XRP’s initial dip below $2 on February 3. Buyers on Upbit and Bybit pushed prices back to $2.89 by February 13.

Recently, however, sentiment shifted. Analyst Dom reported 1.4 million trades of the XRP/KRW pair from April 6 to 7, with 62% being sell orders—amounting to a net sell-off of $120 million worth of XRP.

Whale Sell-Offs and Declining Retail Confidence

This trend aligns with widespread whale and retail sell-offs. Retail confidence has diminished, with over $1 billion in XRP liquidated last week at an average price of $2.10, according to Cointelegraph.

XRP’s higher timeframe (HTF) chart broke below $2 support, hitting a yearly low of $1.61 on April 7. The asset briefly reclaimed that level on April 9, but the overall market structure remains bearish across multiple timeframes.

Picture 81.6% of XRP Supply in Profit, Yet Korean Traders Turn Bearish 3 | TON app

XRP Risks Prolonged Correction Below 200-Day MA

The daily chart indicates XRP may soon close below its 200-day moving average (orange line). Such a move would suggest extended corrective action over the coming weeks.

A crucial demand zone lies between $1.63 and $1.27 (marked in blue), where the altcoin could enter an accumulation phase if buyers step in. Until then, XRP’s near-term outlook remains uncertain as investor sentiment weakens.