XRP has been one of the standout performers of the last market cycle, climbing over 300% from its 2024 base. With the token now trading solidly above $2 and Ripple continuing to expand its institutional reach, many expected price momentum to continue without pause.
But on-chain data tells a different story. Despite positive developments across Ripple’s ecosystem — including ETF adoption, new partnerships, and regulatory clarity — a wave of early investors has begun to exit their positions. This behavior suggests that while the fundamentals are strengthening, short-term sentiment may be cooling off.
So, what’s really happening with XRP? And should traders be concerned?
Glassnode Data Reveals Profit-Taking Surge
Blockchain analytics firm Glassnode reports that early June saw a sharp uptick in profit-taking among XRP holders. Realized profits jumped to over $68.8 million per day, measured on a 7-day moving average — one of the highest levels since the 2024 rally.
The price has held above $2, but distribution patterns suggest that many investors who accumulated during the bear market are now capitalizing on their gains. According to Glassnode’s tweet, “Investors who accumulated earlier are sitting on over 300% gains,” and the market is now seeing the impact of that early confidence turning into sell pressure.
Price Action Reflects Cautious Sentiment
From a technical perspective, XRP has been consolidating in a tight range between $2.10 and $2.40. The price chart shows lower highs forming since May, signaling weakening bullish momentum. At the same time, volume has remained relatively flat — a classic sign of indecision among traders.
Source: Tradingview
This sideways movement, combined with profit realization, suggests that many traders are locking in gains while waiting for new catalysts to reignite the uptrend.
Ecosystem Momentum Continues
Despite the sell pressure, Ripple’s fundamental narrative is far from bearish. As highlighted in CoinDesk’s coverage, the company continues to push forward with new product launches, institutional integrations, and legal progress in key jurisdictions.
The tension between growing long-term fundamentals and short-term profit taking is a familiar one in crypto — and XRP seems to be the latest case study.
Final Thoughts: What This Means for XRP
The recent wave of distribution doesn’t spell doom for XRP, but it does indicate a shift in market sentiment. Until stronger buyer momentum returns, price action could remain choppy or face modest pullbacks.
For long-term holders, this might be a healthy reset. For active traders, it’s a reminder that even the strongest fundamentals don’t always prevent profit cycles from playing out.
Will XRP revisit $2.50 soon — or is a deeper consolidation coming first? The market’s next move will likely be driven by volume.
