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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