XRP News Today: XRP Profitability Surges 90% Ahead of Major Altcoins

XRP has seen a significant surge in profitability, with over 90% of its supply currently in the green. This impressive figure places XRP ahead of several major altcoins, including Ethereum, Dogecoin, Cardano, and Chainlink, which have profitability rates of 71.5%, 77.9%, 71.0%, and 80.5% respectively. Only Bitcoin surpasses XRP with 98.4% of its circulating supply in profit.

According to on-chain analytics firm Santiment, the high profitability of XRP indicates that most of its circulating supply was acquired at lower price points than its current market value. This metric is often used to assess investor sentiment, with a higher percentage of profitable wallets potentially leading to near-term sell pressure as holders take profits. Conversely, when most investors are at a loss, markets often show signs of fear or undervaluation, which can attract new buyers and long-term capital.

Despite a recent 6% dip in XRP’s price, the strong on-chain profitability could indicate a foundation for a potential rebound. Market analysts suggest that developments beyond price charts could catalyze XRP’s next growth phase. Ripple’s drawn-out case with the US Securities and Exchange Commission (SEC) has essentially resolved, lifting a significant overhang from the token. However, progress on that front recently slowed because Judge Analisa Torres denied a joint motion due to procedural issues.

The broader market sentiment on XRP remains largely positive as the token has drawn notable attention. For instance, Nasdaq-listed VivoPower has revealed plans to establish a $121 million XRP-backed treasury, marking a first for a US-listed public company and reinforcing the belief in XRP. Additionally, the XRP Ledger (XRPL) is experiencing rapid expansion within its ecosystem, as evidenced by its adoption by major institutions. This month, the Dubai Land Department tapped the blockchain network to power a real estate tokenization project. New stablecoin products have also launched on the network, expanding its utility across fintech and traditional financial institutions.

Moreover, the institutional appetite for XRP-related trading products is rising. The Chicago Mercantile Exchange (CME) recently introduced XRP futures products, and the US SEC is currently considering multiple filings for a spot XRP ETF. These developments suggest growing institutional confidence and a broader push toward XRP adoption, which could bolster its price.