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XRP holders are facing their deepest unrealized losses since the 2022 bear market, while XRP price stays under pressure near the $1.30 level. On-chain data shows active wallets on the XRP Ledger are down about 41% on average over the past year. At the same time, whale transfers to Binance have slowed, and Ripple is continuing to build its payments business across African markets.
Santiment data shows XRP holders are sitting on their largest unrealized losses since the fallout from the FTX collapse in November 2022. The firm said active XRP Ledger wallets are down about 41% on average over the past 12 months. The reading comes from the Market Value to Realized Value ratio, which compares XRP’s market price with the average cost basis of holders.
The data places XRP among the weaker large-cap crypto assets in terms of holder returns over the past year.
Meanwhile, XRP has moved in a narrow range for long periods, which has kept many buyers underwater. After another failed push above $1.40, the token slipped back toward $1.30, adding fresh pressure on short-term positions.
Santiment said, “XRP holders are nursing an average loss of -41% on their investments.” The firm also noted that the current reading is close to levels last seen during the 2022 market downturn. This period followed broad selling across digital assets and pushed many holders into steep paper losses.
Even with weak price action, XRP Ledger activity has continued to grow. The network now carries about 8.1 million addresses, around $403 million in stablecoins, and roughly $45 million in DeFi value. Those figures show network use is expanding, though XRP price has not followed this trend.
XRP whale activity on Binance has slowed, reducing one source of direct selling pressure. Large holders often send tokens to exchanges during rallies, but recent data shows that inflows have weakened instead. In April, whale deposits to Binance dropped to some of the lowest levels seen this year.
On some days, Binance absorbed only 12.6 million XRP in selling pressure. This is far below the heavier exchange inflows seen during stronger price moves. Over the past 30 days, cumulative XRP inflows to Binance fell to 1.44 billion, one of the lowest monthly totals recorded in 2026.
The slowdown suggests large holders are not rushing to sell at current prices. This has not triggered a recovery, but it has lowered the amount of XRP moving onto exchanges. With fewer whale deposits hitting Binance, the market is dealing with less immediate supply than in earlier months.
Retail holders have also remained in position through the extended sideways trend. Many smaller investors bought closer to local highs and are now holding through losses. Meanwhile, much of the whale supply remains with early adopters who built positions well before recent cycles.
Ripple is continuing to grow its payments business even as XRP price remains weak. The company has focused on peer-to-peer payment tools and regional partnerships tied to digital asset use. In Africa, Ripple reported 52% year-on-year growth in digital asset payments activity.
Moreover, Ripple’s RLUSD supply declined in the past quarter, falling from more than $1.5 billion to about $1.37 billion. Even so, the company expanded its presence through work linked to local fintech firms, including Chipper Cash, VALR, and Yellow Card. Mercy Corps Ventures in Kenya has also been named in connection with RLUSD-related activity.
Ripple has also advanced its institutional business through Ripple Prime brokerage. The service received an investment-grade rating as the company targets more institutional clients. While those business developments continue, XRP price remains near support, leaving the market focused on whether the token can recover above $1.35 or remain under pressure.
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