XRP is experiencing significant selling pressure, reminiscent of the early 2022 bear market, according to Glassnode's latest analysis. The blockchain analytics firm reports that XRP's price has fallen below the average cost basis for holders, triggering a "stop-loss phase". This has led to widespread selling across global exchanges as the broader cryptocurrency market grapples with regulatory scrutiny and macroeconomic uncertainties. Glassnode's data highlights a decline in the 7-day exponential moving average of the Spent Output Profit Ratio (SOPR) from 1.16 in July to 0.96, indicating realized losses now surpass profits. This pattern, often signaling retail investor capitulation, mirrors the September 2021 to May 2022 bear market. Despite historical parallels, analysts caution that current market conditions differ due to evolved market structures and increased institutional participation. The ongoing regulatory developments and macroeconomic factors continue to influence XRP's market dynamics. While historical patterns suggest potential for prolonged corrections, the evolving cryptocurrency landscape presents both challenges and opportunities for investors navigating the current market environment.