XRP 1-Year MVRV Slumps to -41% After FTX
XRP 1-Year MVRV Falls To -41%, Lowest Since FTX Crash
XRP’s one-year Market Value to Realized Value (MVRV) ratio has dropped to -41%, marking its lowest level since the period surrounding the FTX collapse.
MVRV is a commonly used on-chain metric that compares an asset’s market value to its realized value—an estimate of the average price at which current holders acquired their tokens. When the ratio is negative over a given window, it typically indicates that many holders who bought during that period are sitting on unrealized losses.
The one-year MVRV reading of -41% suggests that, on average, XRP held for roughly the past year is significantly underwater relative to current market pricing. The fact that this is the weakest reading since the FTX crash era underscores how deeply that cohort has moved into loss territory.
The broader context is that the FTX collapse represented one of the most acute liquidity and confidence shocks in recent crypto history. On-chain indicators reaching comparable extremes can highlight moments when investor positioning and sentiment are under stress, even without making claims about what comes next.
In practical terms, the move is notable because MVRV is often monitored as a gauge of profitability among holders and as a way to contextualize market conditions. A deeply negative one-year reading points to a market where a large share of recent buyers are holding at a loss, which can influence behavior across spot markets and long-term holding patterns.
