81.6% of XRP supply is in profit, but traders in Korea are turning bearish — here is why

As of now, XRP’s supply in profit is notably at 81.6%, reflecting a retention value for investors even amidst a price drop. However, recent data indicates a shift in sentiment among Korean traders, primarily due to a significant increase in XRP sell orders.

Korean traders have executed over 1.4 million transactions, with approximately 62% being sell orders, resulting in a net sale of 120 million USD in XRP. This follows a pattern of heavy selling from whales and diminishes retail trust in XRP.

Following a decline to a yearly low of 1.61 USD, XRP managed to recover to 2.00 USD. However, maintaining this price level is uncertain, as a close below the 200-day moving average could indicate a prolonged correction.