According to glassnode, profit-taking by XRP longer-term holders spiked to 375 million dollars on July 24, indicating strong distribution behavior similar to the December 2024 rally, based on its on-chain analysis shared on August 20, 2025. According to glassnode, the characterization of strong distribution suggests that long-term holder supply was actively realized into the market during that session, echoing patterns seen into the prior rally in December 2024.