81.6% of XRP ( $1.12 ) supply is in profit, but traders in Korea are turning bearish — Here is why

XRP ( $1.12 ) has struggled to find sustained bullish momentum since reaching its cycle peak at $3.40 on Jan. 16, 2025. XRP ( $1.12 ) ( XRP ( $1.12 ) ) dropped as much as 46% over the past three months, but despite its recent drawdown, Glassnode data indicates that 81.6% of XRP ( $1.12 ) ’s current circulating supply remains in profit.

While the profit supply percentage is down from its year-to-date high of 92%, the data set highlighted the retention value for holders despite the recent corrections.

$1.12 ) , Markets, Price Analysis" src="https://s3.cointelegraph.com/uploads/2025-04/019616ba-56a7-7062-abc4-ceafd3acd05d" title=""/>

Currently, only Tron (TRX) has a higher profitable supply with 84.6%, while Bitcoin ( $61,802.00 ) (BTC), Ether (ETH) and Solana (SOL) exhibited 76.8%, 44.9% and 31.6%, respectively.

Analyst says Korean XRP ( $1.12 ) traders are bearish

Data shows traders in Korea played a significant role in buying the first XRP ( $1.12 ) dip below $2 on Feb. 3. Investors on Upbit and Bybit exchange filled their bids below $2, pushing the altcoin’s value back to $2.89 on Feb. 13.

However, the sentiment has flipped over the past few days. Anonymous market analyst Dom pointed out that Korean traders executed 1.4 million trades on the XRP ( $1.12 ) /KRW pair, with 62% being sell orders, resulting in a net sale of $120 million in XRP ( $1.12 ) between April 6-7.

$1.12 ) , Markets, Price Analysis" src="https://s3.cointelegraph.com/uploads/2025-04/019616f3-9bae-73d9-96e6-15045dfcece0" title=""/>

The data follows a trend of heavy selling from long-term whales and new investors as “retail confidence” in XRP ( $1.12 ) continues to slip. Last week, Cointelegraph reported over $1 billion in positions being offloaded at an average price of $2.10

Related: XRP ( $1.12 ) price gains 13% after Trump 90-day tariff pause and X XRP ( $1.12 ) ETF launch

XRP ( $1.12 ) ’s higher time frame (HTF) chart lost its $2 support, dropping to a new yearly low of $1.61 on April 7, but the altcoin managed to reclaim this critical level on April 9. Even if XRP ( $1.12 ) holds the $2 level, the price reflects a bearish market structure on multiple time frames.

$1.12 ) , Markets, Price Analysis" src="https://s3.cointelegraph.com/uploads/2025-04/019616ff-a0af-75d8-a4d7-9861e63f394f" title=""/>

As illustrated in the chart, XRP ( $1.12 ) will potentially close a daily candle below its 200-day moving average (orange line), leading to a prolonged correction period over the next few weeks. The key demand zone remains between $1.63 and $1.27 (blue box), where a period of accumulation might unfold for the altcoin.

Related: Ripple acquires crypto-friendly prime broker Hidden Road for $1.25B

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.