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A notable shift is occurring around XRP, one of the leading cryptocurrencies by market cap. While 81.6% of the global circulating XRP supply remains in profit, the sentiment among Korean traders appears to be cooling. A significant sell-off on South Korea’s major exchange Upbit suggests growing caution among local investors.
Sell Pressure Mounts from South Korea
Between April 6 and 7, Korean investors executed over 1.4 million XRP transactions, with 62% being sell orders. This resulted in a net outflow of roughly $120 million in XRP. The majority of the activity was concentrated in the XRP/KRW trading pair, which has traditionally played a key role in driving price movements across the Asian market.
Just two months ago, Korean traders were aggressively buying XRP, especially when the price dropped below $2 in early February. Now, however, that optimism seems to be fading, replaced by a more cautious outlook.
XRP Still Leading in Profitability Metrics
Despite recent volatility, XRP remains remarkably strong when looking at the ratio of profitable vs. unprofitable tokens in circulation. According to Glassnode, only Tron (TRX) currently outperforms XRP, with 84.6% of TRX supply in profit. By comparison:
These figures demonstrate that XRP holders have, in general, managed to maintain profitable positions, even though the token has lost 46% of its value over the past three months—down from its peak of $3.40 on January 16.
Critical Technical Levels Under Threat
On April 7, XRP’s price fell below the crucial $2 support level, dropping as low as $1.61. Although it reclaimed this level two days later, the technical outlook remains fragile. On the daily chart, XRP is in danger of closing below the 200-day moving average, a move that could trigger further downside pressure.
The fact that a large portion of XRP supply is still in profit, yet we’re seeing heavy selling, highlights just how quickly market sentiment can shift. It also underscores the impact of profit-taking, which can swiftly turn into broader selloffs, especially in markets with high trading influence like South Korea.
Geopolitical Tensions Add Fuel to Volatility
This selling pressure is playing out against a backdrop of wider geopolitical uncertainty and escalating global trade tensions. With market headlines changing by the day, investor nerves are on edge—and XRP is no exception.
As such, the coming days could prove pivotal. Will XRP bulls defend key support levels, or will regional caution continue to drag down the price? One thing is clear: crypto markets remain highly sensitive to both macro and local sentiment, and XRP is right in the spotlight.
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