XRP holders lose cost benchmark, on chain profits turn negative

The cost benchmark for XRP holders has been breached, and on chain profitability has turned negative. The 7-day moving average SOPR has dropped from 1.16 on July 25th to the current 0.96, and holders are experiencing significant losses. This situation is similar to the period from September 2021 to May 2022, when SOPR remained consistently below 1 and experienced sustained consolidation before stabilizing. （glassnode）