XRP lost its aggregate holder cost basis, triggering panic selling. • SOPR (7D EMA) fell from 1.16 (Jul ’25) to 0.96 (now) • Holders are realizing significant losses • On-chain profitability flipped negative This setup closely resembles the Sep 2021–May 2022 phase, where SOPR plunged to a <1 range for prolonged consolidation before stabilization. 📉 http://glassno.de/3O4vYwO(glassnode)