Profit-Taking Gains Pace Among XRP Early Adopters as Legal Wins Fuel Confidence in the Network

Early XRP holders are cashing in gains as the token approaches significant resistance levels just below its highs from 2021, pausing one of the crypto market’s most robust rallies of the current cycle.

Currently trading above $2.09, XRP has soared more than threefold from its October 2024 lows near $0.60. While this marks one of the strongest performances among large-cap cryptocurrencies over the past eight months, many early investors are seizing the opportunity to lock in profits.

Data from Glassnode shows the 7-day simple moving average (SMA) of realized profits from XRP wallets climbed to $68.8 million earlier this month — the highest level in over a year. This signals growing selling pressure from long-term holders eager to secure gains as XRP tests resistance around $2.20.

“XRP is trading above $2, more than 3x higher than its base price before the sharp rally in November 2024. Investors who accumulated earlier are sitting on over 300% gains,” Glassnode noted in a June 19 post.

Despite a supportive environment, including regulatory wins in the U.S. and Ripple’s push into tokenized asset infrastructure, XRP has repeatedly struggled to hold above the $2.20 mark in recent sessions. Analysts point to persistent profit-taking as a significant obstacle for further upside in the near term.

Broader Altcoin Weakness

Meanwhile, research from CryptoQuant underscores ongoing weakness across the wider altcoin market. The 1-year cumulative buy/sell volume difference — which measures net flows into crypto assets excluding BTC and ETH — has turned negative by $36 billion, reversing the modest uptick seen last December.

“Since then, it’s been a steady bleed,” observed CryptoQuant analyst Burak Kesmeci, adding that “altcoin investors are missing in action.”

While XRP, Solana (SOL), and certain real-world asset (RWA) tokens have shown pockets of strength, most altcoins remain trapped in downtrends. Without renewed risk appetite or significant capital rotation into Layer 1 networks, DeFi, or gaming sectors, the much-anticipated “altseason” appears increasingly out of reach as summer progresses.