XRP has dropped nearly 28% since the start of 2026, continuing a difficult trend after closing 2025 down 11.6%. The prolonged decline has pushed a significant portion of the token’s circulating supply into loss territory, highlighting growing pressure across the XRP market. Data indicates that around 36.8 billion XRP, worth roughly $50.8 billion, are currently being held at a loss.

With a circulating supply of about 61.2 billion tokens, nearly 60% of XRP is now underwater. The downturn has also coincided with weaker market activity, suggesting many traders are stepping back while waiting for clearer price direction. This environment reflects broader uncertainty in the XRP ecosystem as investors weigh whether the current slump is temporary or part of a longer-term trend.