#Ripple holders realized over $30 million in losses in the past ten days, XRP sustains above $0.47

• Ripple holders have shed their XRP holdings and realized over $30 million in losses since June 15. 

• XRP token supply on exchanges is down to 2.84 million in the same timeframe. 

• XRP struggles to surge past $0.48 on Tuesday. 

Ripple’s price (XRP) struggles to hold above $0.48 on Tuesday and seems ready to extend its recent decline. According to Santiment data, investors have realized losses on their token holdings in the past ten days. This is typical of market capitulation, with traders likely distributing their tokens at a loss and expecting a decline in the asset’s price. 

XRP has steadily declined since the June 17 high of $0.5213, down to $0.47 on Tuesday. 

Daily digest market movers: Ripple holders take losses in recent XRP price dip

• Ripple traders distributed their XRP holdings at a loss between June 15 and June 25, Santiment data shows. 

• The Network Realized Profit/Loss (NPL) metric shows negative spikes in the timeframe, losses exceed $30 million in the ten-day period. 

• Distribution of token holdings at a loss is typically a sign of market capitulation. 

• However, in the case of XRP, the supply on exchanges has declined in the past ten days. 

• 2.84 million XRP tokens are held on exchanges, down nearly 1% in the same period, signaling a reduction in selling pressure on the altcoin. 

• The Santiment chart below shows the

decline in exchange supply and the NPL vs. XRP price.

• Developments in the SEC vs. Ripple lawsuit are typical market movers for the token. 

• There has been no update since the SEC’s response to Ripple on June 14, in which the regulator quotes a $102.6 million fine for the payment remittance firm’s alleged securities violation. 

• A California Judge recently dismissed all class action lawsuits against the firm except for one against CEO Brad Garlinghouse, a partial win for Ripple, amidst the long-drawn legal battle with the SEC. . $XRP