XRP's profit surged over 90%, surpassing Ethereum, Chainlink, and other cryptocurrencies.

More than 90% of the XRP supply is currently profitable, even though the price of this token has remained relatively stable over the past three months. Data from the blockchain analysis company Santiment shows that the majority of the circulating supply of XRP was purchased at prices lower than the current market value. This level of profit puts XRP ahead of several major altcoins. For comparison, only 71.5% of Ethereum, 77.9% of Dogecoin, 71.0% of Cardano, and 80.5% of Chainlink holders are in profit. However, XRP ranks just behind Bitcoin, the leading cryptocurrency with 98.4% of the circulating supply in green.

Analysts at Santiment explain that this profit metric is often used to gauge investor sentiment. According to them, a higher percentage of profitable wallets may lead to selling pressure in the short term as holders take profits. But when most investors are losing money, the market often shows signs of fear or being undervalued, which can attract new buyers and long-term capital. However, despite the recent 6% drop in XRP prices this week, strong on-chain profits may indicate a foundation for recovery. Why XRP is poised for greater success Market analysts believe that developments beyond the price chart could drive the next growth phase of XRP. Ripple's prolonged lawsuit with the U.S. Securities and Exchange Commission (SEC) has essentially been resolved, removing a significant burden from this cryptocurrency. However, progress on this front has recently slowed down as Judge Analisa Torres has dismissed the joint motion due to procedural issues. However, the general sentiment of the market towards XRP remains predominantly positive as this token has garnered significant attention. To better understand, Nasdaq-listed VivoPower has revealed plans to set up a $121 million XRP-backed investment fund. This development marks the first for a public company listed in the United States and strengthens confidence in XRP. In addition, the XRP Ledger (XRPL) is rapidly expanding within its ecosystem, as evidenced by its adoption by many large organizations. This month, the Dubai Land Department has leveraged the blockchain network to support a real estate tokenization project. At the same time, new stablecoin products have also been launched on the network, expanding its utility in traditional financial institutions and fintech. Moreover, the demand from institutions for trading products related to XRP is increasing. This is evidenced by the fact that the Chicago (CME) Mercantile Exchange recently introduced XRP futures products, and the U.S. Securities and Exchange Commission is currently reviewing multiple filings for a spot XRP ETF. Overall, these developments indicate the increasing confidence of organizations and the momentum driving broader adoption of XRP, which could boost the price of this cryptocurrency.