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XRP traders face funding split as older holders stay underwater
Glassnode data shows 6 to 12 month XRP buyers have an average cost basis near $2.22, about 52% above XRP's $1.08 spot on July 14.
XRP's rebound toward $1 is running into potential investor friction, with on-chain and derivatives data pointing to many holders still being well below their cost basis. Crypto analytics firm Glassnode said XRP holders who bought between 6 and 12 months ago have an average cost basis near $2.22, about 52% higher than XRP's $1.08 price on July 14.
Glassnode also flagged that a one to two year cohort has a realized price near $1.89, roughly 43% below the current spot price and about 77% short of breakeven. It added that the aggregate realized price across tracked XRP supply sits at $1.36, while its aggregate NUPL reading was near -0.252, indicating losses outweigh gains across the holder base.
On the derivatives side, perpetual funding rates across major venues were split, with a 2.6 basis point range as of July 12. CoinGlass data cited by CryptoSlate showed funding ranging from negative rates on Kraken, Coinbase, Bybit, and Crypto.com, to positive rates on Binance near zero and higher positive readings on Gate, Hyperliquid, Bitget, and Huobi.
The derivatives market also appears to be driving most day to day activity. CryptoSlate reported XRP 24 hour futures volume of over $1.7 billion versus spot volume around $290.4 million, a roughly 5.9 to 1 ratio, with open interest near $2.3 billion and pointing to continued reliance on futures turnover rather than spot trading.
Latest closeXRP $1.101 ▲3.3%