[DigitalToday reporter Yoonseo Lee (이윤서)] XRP’s 90-day moving average realised profit-loss ratio fell to 0.33, dropping to low levels seen during the 2022 bear market.

According to blockchain outlet The Crypto Basic on June 27 (local time), XRP slid to a year-to-date low of $1.0079 amid a broader decline across the crypto market, putting the $1 level back to the test.

XRP has rebounded slightly to around $1.03, but is down about 8 percent over the past week. As price weakness persisted, loss-taking sales by investors increased, and on-chain indicators reflect that.

Based on Glassnode data, the realised profit-loss ratio compares the value of coins sold at a profit with the value of coins sold at a loss over a given period. A reading above 1 means realised profits exceed realised losses, while a reading below 1 means loss-taking sales are greater.

The 0.33 reading shows losses far exceed gains among investors now selling. When $1 of losses is realised, gains total only $0.38, meaning the balance between profitable and loss-making trades has tilted sharply toward losses rather than reflecting total selling volume.

The indicator stayed above 1 for a time even during a downtrend that has continued since October last year. But after XRP began to wobble in the $1.3 to $1.4 range in April 2026, it fell below 1, and in early June it plunged to 0.38. As the price gave up support in the $1.3 range and moved into a retest of $1, the reading fell further to 0.33.

Some in the market are also expressing hopes that the latest reading could be a bottom signal. But past moves call for a more cautious interpretation. During the 2022 bear market, the indicator fell below 1 after the Terra ecosystem collapse, and even after it reached 0.33 the decline did not stop. The indicator fell further to below 0.2, and XRP slid to $0.31 in June 2022.

Recovery also took time. The realised profit-loss ratio did not regain 1 until September 2022, and a full-fledged uptrend appeared only in November 2024. That is why it is hard to conclude that the recent return of the indicator to 2022 levels will immediately lead to a trend reversal.

In this context, the market is watching two points. One is whether XRP can hold the psychological support level of $1. The other is whether the dominance of loss-taking sales will deepen and push the realised profit-loss ratio down further below the 2022 low zone. The current reading signals investor sentiment has weakened considerably, but based on past cases, confirming a bottom may require additional time.

The decline in the indicator shows that price weakness is being clearly reflected in on-chain profit-and-loss dynamics. In particular, even when the metric reached levels similar to 2022, a rebound did not follow immediately. That suggests the market needs to watch whether loss realisation persists alongside the price.