The ongoing crypto market downturn has resulted in significant shifts in market sentiment, with major cryptocurrencies seeing widespread losses. Data from the on-chain analytics platform Glassnode reveals that many long-term holders of top assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are now underwater, facing losses after acquiring these assets over the past 3-6 months.
However, XRP stands as a rare exception in this market bloodbath, offering respite to its buyers. According to the latest data, investors who purchased XRP during the recent 3-6 month period are seeing notable gains, in contrast to the broader market trend. Despite the high volatility in the crypto space, XRP’s price has risen above its cost basis of $2.14, leaving buyers with an 11% gain.
The broader crypto market continues to face a negative trend, with major players such as BTC, ETH, and SOL experiencing price declines that have pushed their values below the average entry points of euphoric buyers who entered during the peak of the market’s rally between December 2024 and January 2025. In contrast, XRP’s surge has bucked this trend, making it one of the few cryptocurrencies that have managed to provide profits to recent investors.
Data from Coinglass reveals that mid-term sentiment in the crypto market is growing increasingly bearish, with the market showing signs of weakness. The platform measures a rare metric by comparing the current prices of BTC, ETH, XRP, and SOL to the cost basis of investors who bought in during euphoric high-buying periods.
While the broader crypto market remains in the red, with BTC, ETH, and SOL posting declines of 0.18%, 1.53%, and 2.82% respectively over the past week, XRP’s performance has diverged. Despite a 6.39% drop in its price during the same period, many of XRP’s buyers are still in profit.
On the other hand, SOL and Ethereum investors who bought in during euphoric highs have seen their positions decline by 28% and 36% respectively, leaving them without profits. Bitcoin, meanwhile, is near a break-even point, reflecting only a modest 1% loss from a cost basis of $95K.
While there is hope for a potential market reversal, the data suggests that further weakness is likely unless these assets experience a breakout, surpassing their cost basis levels and returning to profitability for many investors.
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