Analysts: XRP Profitability Increases Over 90%

Analytics firm Santiment reported that the vast majority of XRP tokens in circulation were purchased at prices below the current market cap, leaving more than 90% of token holders in the black.

For comparison, Ethereum has 71.5%, Dogecoin has 77.9%, Cardano has 71%, and Chainlink has 80.5%. Bitcoin currently remains the leader in this parameter, demonstrating a record profitability of 98.4%. Santiment experts emphasized that the indicator of the share of profitable wallets is often used to analyze market sentiment. In their opinion, a high level of profitability can provoke an increase in sales, as token owners seek to secure their winnings.

Experts also noted that the end of a lengthy lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) has had a positive impact on the XRP market, relieving significant legal tension around the asset. In addition, there has been growing interest from institutional investors in XRP-linked products, as evidenced by the recent launch of futures contracts for this token by the Chicago Mercantile Exchange.

The SEC is currently reviewing several applications to create XRP spot ETFs, which could further stimulate the market.