XRP’s Bottom Signal Runs Into a $15.7 Billion Exchange-Supply Test

By Isaac • October 21, 2026 11:13 am •

XRP is showing one of the market’s classic early-bottom signals, but the amount of XRP already sitting on exchanges means a clean recovery is far from guaranteed.

The hopeful side of the setup begins with valuation. According to CryptoSlate, XRP’s 365-day market-value-to-realized-value ratio has fallen to about 0.92.

That suggests the average holder measured by the indicator is roughly 8% below cost basis.

When a large group of holders is underwater, immediate profit-taking pressure can ease because fewer coins are sitting on gains. That can create room for a bottom. It does not create buyers, however, and that distinction is the heart of XRP’s current test.

The same October 20 snapshot put Dogecoin’s 365-day MVRV near