XRP has entered a fragile phase as on-chain signals weaken and short-term holders face losses. The latest data from Glassnode indicates that most recently traded coins are selling below their acquisition price. At the same time, institutional exposure continues to grow, with Goldman Sachs reporting $153 million in stakes in XRP-linked ETFs. Divergent signals are now shaping the debate around XRP's near-term direction.
In brief
- XRP SOPR Falls to 0.96, Signaling Most Holders Selling at a Loss
- Only 58.5% of XRP supply remains in profit after repeated rejections at $2.00
- Goldman Sachs reports $153M exposure to XRP via ETF stakes
- Minotaurus raises 3.08M USDT in pre-sale with audited portfolio transparency
Selling at a loss: SOPR signals weakness in XRP
Glassnode’s Spent Output Profit Ratio (SOPR), measured on a 30-day EMA, fell to 0.96. Values below 1.0 indicate that on-chain coins are being sold at a loss. Earlier in July 2025, the SOPR stood at 1.16, indicating widespread profit-taking conditions. Often, a move below the neutral level signals stress among recent participants.
Price weakness has followed this metric closely. XRP has broken below key support zones and below the average acquisition price of many holders. As losses mounted, selling pressure intensified. Such behavior often appears during phases of panic or early periods of capitulation.
Historical data sheds light on this current trend. Between September 2021 and May 2022, XRP posted extended SOPR readings below 1.0. This period preceded a further decline before stabilization emerged. The current setup reflects this period, prompting caution if a recovery in the metric does not occur quickly.
Long-term holders remain in profit while new entrants struggle
Realized price data shows a growing gap between holder groups. THE coins held for more than six months were acquired at much lower levels and remain in profit. Recent buyers, especially those active within the past four weeks, face acquisition prices near or above the current spot price of $1.40. The pressure exerted by these cohorts increases volatility during downturns.
Only 58.5% of XRP's supply is currently in profit, according to Glassnode. This figure marks the lowest level since November 2024, when XRP was trading around $0.53. Repeated rejections near $2.00 formed a clear psychological barrier. Each test at this level resulted in realized losses of between $500 million and $1.2 billion per week.
The current structure makes the market sensitive to short-term flows. If buying support weakens further, new holders may continue to sell on dips. Long-term holders still have large unrealized gains, but short-term positioning drives immediate price action.
Key on-chain pressure points:
- SOPR remains below 1.0, signaling continued loss realization
- Short-term holders show realized prices close to spot levels
- Bid in profit fell to 58.5%, near multi-month lows
- Repeated Rejections at $2.00 Trigger Large Weekly Realized Losses
Alongside the stress of individuals, institutional positioning has expanded. Goldman Sachs has confirmed approximately $153 million in exposure to XRP through exchange-traded funds. This initiative signals continued interest from major financial players despite recent volatility. Institutional flows can provide stability, although short-term price movements often depend on spot demand.
Exposure via ETF also reflects broader acceptance of digital asset products in traditional finance. However, the presence of large holders does not automatically reverse weak on-chain trends. The market still requires sustained demand to absorb sales from recent entrants.
Why buy Minotaurus crypto (MTAUR)
Attention has also turned to smaller blockchain projects. Minotaurus (MTAUR)a token linked to a blockchain-based game on Binance Smart Chain, has recorded over 3.08 million USDT in pre-sale deposits. SolidProof and Coinsult audited the structure of the project and its smart contracts.
Coinsult's Proof of Assets report indicates that the presale wallet did not record any outgoing transactions during its 549-day period. The long duration of the presale and locked wallet activity attracted interest from participants looking for transparency metrics. Such data points often serve as a benchmark for evaluating early-stage token models.
At a list price of 0.00012662 USDT, 100 USDT converts to approximately 790,000 MTAUR tokens. Project documents indicate that the price is expected to increase by 60% in the next pre-sale stage. A bonus pool of 100,000 USDT was also announced, with 50,000 USDT allocated to the main participant and the remaining 50,000 distributed among 99 others.
For participants who missed early cycles like Bitcoin in 2012 or Solana in 2020, Minotaurus is seen as a new early-stage opportunity. Its gaming utility, its current pre-sale price and its active community have positioned it among the projects attracting attention before its listing planned for 2026.
Final perspective
XRP remains under pressure as SOPR remains below neutral and recent holders continue to sell at a loss. Long-term holders are still in profit, but short-term activity is fueling the current decline. Goldman Sachs' $153 million exposure via XRP-linked ETFs signals institutional interest, although it does not immediately reverse near-term weakness.
At the same time, some market participants monitor tokens considered to be the best “sub-zero” assets potentially interesting to buy now.
With its audited pre-market structure, its gaming use case and a bonus pool of 100,000 USDT, Minotaurus (MTAUR) has moved into the spotlight ahead of its planned listing in 2026. The focus remains on utility, transparency and early-stage positioning in the broader market cycle.
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