XRP holders' cost basis breached, on-chain profitability turns negative
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The cost basis for XRP holders has been breached, and on-chain profitability has turned negative. The 7-day moving average SOPR has dropped from 1.16 on July 25 to the current 0.96, indicating that holders are realizing significant losses. This situation is similar to the period from September 2021 to May 2022, when SOPR remained below 1 for an extended period and only stabilized after a prolonged consolidation. (glassnode)
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