Santiment said that wallets active on the XRP Ledger over the past year are down an average of 41% on their investments. The analytics firm added that this is the lowest MVRV, or Market Value to Realized Value reading, for XRP traders since the FTX crash in November 2022.
📉 Average wallets that have been active on the XRP Ledger over the past year are down an average of -41% on their investments. This is the lowest MVRV (Mean Value to Realized Value) for XRP traders since the FTX crash in November, 2022.
0⃣ Because cryptocurrencies are zero sum… pic.twitter.com/wADnXQ9vk2
— Santiment (@santimentfeed) April 7, 2026
The signal shows losses are no longer confined to a small slice of late buyers. The pressure has spread broadly enough that the average one-year participant is now sitting deep underwater, which makes this one of XRP’s weakest on-chain profitability readings in more than three years.
What gives this metric real weight is the depth of the reset. When a market reaches pain levels last seen during the post-FTX washout, it stops looking like routine weakness and starts looking like a far more stressed holder base than price alone might suggest.
Source: Santiment on X.
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