XRP Market Structure Echoes April 2022, Says Glassnode

As XRP dips below $1.60, the on-chain analytics firm Glassnode points out intriguing similarities between the current market structure and that of April 2022.

Key Takeaways

Glassnode indicates that the current XRP price structure resembles that of April 2022.
The Realized Price, which signifies the average acquisition cost for XRP holders, is crucial in assessing market sentiment.
With XRP currently close to its Realized Price of $1.48, there's speculation about potential bearish trends, similar to 2022.
Technical analysis suggests key resistance and support levels for XRP moving forward.

XRP

Current Market Dynamics of XRP

In a recent post on X, Glassnode discussed the ongoing trading status of XRP concerning its Realized Price. This metric represents the average price paid by holders of the cryptocurrency on the blockchain. When XRP's market price exceeds its Realized Price, it typically indicates that most investors are experiencing profits. Conversely, when it falls below this price, it suggests that many holders are facing losses.

The chart provided by Glassnode illustrates the trend of XRP's Realized Price over recent years:

XRP Realized Price

The graph depicts that the XRP spot price has remained above the Realized Price since 2024, allowing holders to enjoy unrealized gains. However, the level of profitability has fluctuated throughout this period. Notably, the price had its largest gap over the Realized Price in late 2024, driven by a significant bull market. Yet, in the first three quarters of 2025, profits began to wane as tokens exchanged hands at elevated levels, raising the Realized Price.

As 2025 progressed, the Realized Price leveled off. However, a downturn in the asset meant the XRP market price was at risk of approaching this metric again, further squeezing investor profits. This pattern has intensified recently; following a market-wide downturn last week, XRP has now drawn alarmingly close to the Realized Price, currently set at $1.48.

Glassnode stated, “The current market structure is very similar to that of April 2022.” During that time, the asset was on the brink of transitioning into a bear market, causing the price to dip to the Realized Price. This attempt to retest resulted in a failure, prompting a sharp decline that reached cycle lows.

With the XRP price now hovering near this indicator, it will be interesting to observe if a retest occurs soon, and whether it could lead to a bearish trend similar to 2022.

If the decline persists, key support levels identified by analyst Ali Martinez may come into play.

XRP Price Chart

According to Martinez's analysis, resistance stands at $1.86, while support is set at $1.38 and $1.02.

Current XRP Price

As of the latest update, XRP is trading near $1.60, marking a decline of nearly 15% over the past week.

XRP Price Chart

The cryptocurrency appears to have experienced a significant downturn over the last few days, prompting ongoing analysis of its future movements.