XRP's supply in profit has reached its lowest point since November 2024, even as the cryptocurrency's price has quadrupled and a major ETF has launched. Currently, 41.5% of XRP's circulating supply is at a loss, highlighting a market with significant capitulation risk. The newly launched Spot XRP ETF by Canary Capital has attracted considerable interest, recording $59 million in initial trading volume. Market analysts warn that recent XRP buyers are exposed to increased risks amid a broader market correction, with Bitcoin also under price pressure. This situation underscores the volatility and structural fragility within the cryptocurrency market.