UTXO Realized Price Distribution (URPD) shows at which prices the current set of Bitcoin UTXOs were created (i.e. each bar shows the amount of existing bitcoins that last moved within that specified price bucket). The price specified on the x-axis refers to the lower bound of that bucket.
There are two variants of this metric based on x-axis partitioning:
ATH-partitioned (price buckets are defined by dividing the range between 0 and the current ATH in 100 equally-spaced partitions)
% partitioned (price buckets are defined by taking the day's closing price and creating 50 equally-spaced bucket each above and below the closing price in steps of +/- 2%)
URPD price buckets are calculated by adding the value of all UTXOs where the price when the UTXOs were created falls into that given bucket.
Glassnode - Twitter Thread