Early investors in XRP are locking in profits as the token nears resistance levels just below its 2021 highs, pausing one of the most significant rallies among large-cap cryptocurrencies this cycle.
Currently trading above $2.09, XRP has surged over threefold from its October 2024 lows near $0.60. Despite its impressive performance over the past eight months, growing signs suggest early adopters are capitalizing on gains.
Data from Glassnode reveals the 7-day simple moving average (SMA) of realized profits from XRP wallets recently spiked to $68.8 million, marking the highest reading in more than a year. This uptick signals increased selling pressure as long-term holders look to exit positions while prices test resistance around $2.20.
“XRP is trading above $2, more than 3x higher than its base price before the sharp rally in November 2024. Investors who accumulated earlier are sitting on over 300% gains,” Glassnode reported on June 19.
Despite a supportive backdrop—including regulatory clarity in the U.S. and Ripple’s expanding work in tokenized asset infrastructure—XRP has repeatedly struggled to sustain moves above $2.20. Analysts cite persistent profit-taking as a key hurdle for further upside.
Altcoin Market Remains Fragile
Meanwhile, new analysis from CryptoQuant points to broader weakness across the altcoin sector. The 1-year cumulative buy/sell volume difference—which tracks net flows into tokens excluding BTC and ETH—has slipped to a negative $36 billion, wiping out the brief surge seen in December 2024.
“Since then, it’s been a steady bleed,” wrote CryptoQuant analyst Burak Kesmeci, adding that “altcoin investors are missing in action.”
While select tokens like XRP, Solana (SOL), and some real-world asset (RWA) projects show isolated strength, much of the altcoin market remains stuck in a downtrend. Without a revival in risk appetite or fresh capital rotating into sectors like Layer 1 networks, DeFi, or gaming, hopes for an imminent “altseason” appear increasingly unlikely as summer approaches.
