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Glassnode Highlights XRP On-Chain Pattern Echoing February 2022 Pre-Crash Setup Around $2 Level

On January 19, 2026, Glassnode warned that XRP's current on-chain cost-basis structure closely resembles the configuration seen ahead of its 60% price decline in 2022, with newer wallets buying below the mid-term cohort's realized price. XRP is trading at $1.91, down 4.74% over the past 24 hours and below its 20-, 50-, 100- and 200-day moving averages, while analysts are watching the $2.00 psychological level, $1.80 support, and potential downside toward $1.25 if selling pressure intensifies. Despite $1.37 billion in cumulative ETF inflows since November 2025 and exchange reserves dropping to their lowest since 2018, recent inflows and rising exchange balances show that ETF demand has not fully averted drawdowns.