$XRP Profitability Just Hit a 21-Month Low

Only 43.4% of $XRP supply is in profit. That is the worst reading in 21 months.

Key data:

- Spot ETFs: $31M net outflows in March, continuing into April

- Whale exchange inflows: slowing sharply

- Morgan Stanley Bitcoin ETF: 444 BTC for $31.6M on day one

Signal: retail is shaking out while large holders stay patient.

Implication: this looks like a compression shakeout, not mass distribution. Watch whale exchange flows for the next directional signal.

#XRP #CryptoAnalysis #OnChain #ETFFlows #CryptoSignals