thecryptobasic.com 
The 90-day moving average for the $XRP Profit/Loss Ratio has dropped to lows the market last saw during the 2022 bear cycle.
This comes as $XRP witnesses deeper declines alongside the rest of the crypto market. Specifically, the price collapsed to a new yearly low of $1.0079, dangerously close to losing the $1 psychological mark. Despite recovering to $1.05 at press time, $XRP is still down 8% in the past week.
$XRP Realized P/L Ratio Hits 2022 Bear Market Lows
According to data provided by market intelligence resource Glassnode, this sustained price decline has now pushed the 90-day moving average (MA) for the $XRP Profit/Loss Ratio to 0.33, a low the asset last recorded in August 2022, during one of its most devastating bear markets.
For context, the Realized Profit/Loss Ratio compares the total value of coins sold at a gain with those sold at a loss over a specific period. A reading above 1 shows that profits outweigh losses, while a reading below 1 indicates that losses exceed profits.
The 0.33 reading indicates that, among investors who are actively selling, losses significantly outweigh profits. Specifically, for every $1 in losses that investors realize, only $0.38 in profits is being taken. Notably, this does not refer to total selling volume, but to the balance between profitable and unprofitable transactions.
$XRP Realized Profit/Loss Ratio | Glassnode
Each new drop in the ratio shows that more investors are exiting their positions at a loss, and profit-takers no longer generate enough gains to balance out those losses.
Historical Data
Interestingly, despite the ongoing downtrend triggering severe declines as far back as October 2025, the $XRP Profit/Loss Ratio did not slip below the 1 baseline until April 2026, as $XRP struggled around the $1.3 to $1.4 price level.
By early June, the ratio had collapsed to 0.38, seeing a steep crash after April. $XRP has since given up the $1.3 to $1.4 price range, retracing to retest the $1 psychological level. This downward price action pushed the Profit/Loss Ratio to the current reading of 0.33.
During the 2022 bear market, this metric did not slip below 1 until after the Terra ecosystem collapse in May, which led to losses across the crypto market. After reaching 0.33, the metric continued to decline, hitting a low below 0.2, as $XRP’s price dropped to $0.31 by June 2022.
While multiple $XRP community members believe the recent reading may point to a potential bottom, it is important to note that $XRP remained under pressure for months even after the ratio dropped below 1 in 2022. Notably, it wasn’t until September 2022 that the metric recovered above 1, and a full-blown rally only emerged in November 2024.
