Glassnode’s latest on-chain analysis reveals a significant shift in retail investor behavior, with XRP emerging as the dominant choice for retail traders in the current market cycle. The report, titled ‘Rippling Away,’ shows XRP’s remarkable growth in user activity despite Bitcoin’s consolidation between $76,000-$87,000.
In a striking comparison, XRP’s daily active addresses have surged by 490% from the 2022 cycle low, while Bitcoin saw just a 10% increase. This dramatic divergence highlights unprecedented retail interest in XRP, with its Realized Cap nearly doubling from $30.1 billion to $64.2 billion between December 2024 and early 2025.
However, this retail enthusiasm comes with warning signs. As noted in recent analysis of XRP market dynamics, the current structure shows increasing fragility. Glassnode’s data indicates a concerning trend in the Realized Loss/Profit Ratio, which has steadily declined since January 2025.
Key Market Indicators
- Daily Active Addresses: +490% increase from 2022 cycle low
- Realized Cap Growth: $30.1B to $64.2B (Dec 2024 – Early 2025)
- New Capital Inflow: Approximately $30B in last 6 months
- Current Trading Price: $2.00
Risk Factors and Market Outlook
The report highlights several concerning factors that could impact XRP’s price stability:
- Top-heavy cost basis structure
- Declining profitability metrics
- Waning retail confidence since February 2025
- High concentration of new investors vulnerable to volatility
Frequently Asked Questions
What’s driving XRP’s retail popularity?
The surge in retail interest can be attributed to XRP’s strong performance and increased accessibility through major exchanges.
Is the current XRP rally sustainable?
Glassnode’s data suggests caution, with multiple indicators pointing to potential market saturation and declining momentum.
How does XRP’s performance compare to Bitcoin?
While XRP shows stronger retail participation metrics, Bitcoin maintains more stable long-term holder behavior and institutional interest.
At press time, XRP trades at $2.00, with market participants closely monitoring these evolving trends for signs of directional change.