XRP News Today: XRP Gains 20% in 16 Days, Eyes $3 Target Amid Bullish Metrics

XRP, the cryptocurrency, appears to be well-positioned for further gains, with the long-awaited $3 target back in focus. On-chain metrics indicate healthy demand and easing volatility, creating a more sustainable environment for long-term bullishness on XRP price predictions. Since hitting a local top in mid-May, XRP has gained 20% over the past 16 days, showing a firm mid-term uptrend.

Macro narratives, such as trade negotiations and potential rate cuts, contribute to a cautious optimism. The MVRV (Market Value to Realized Value) Z-Score, a key valuation metric, peaked near 6.5 during XRP’s early 2025 run to $3. Currently, it hovers around 2.0, well below the 3.0 threshold that typically signals overvaluation. This suggests that XRP is not overextended relative to historical investor entry points, indicating accumulation and HODLing rather than short-term speculation.

The HODL Wave chart reinforces this, showing over 40% of the circulating supply hasn’t moved in more than a year, underscoring strong holder conviction for further gains. Long-term cohort bands remain stable despite recent volatility, creating a solid foundation for growth with resilient underlying support.

Technical analysis suggests that XRP is gearing up for its next leg higher as it teeters on a breakout from a symmetrical triangle that has capped its upside since late February. Momentum indicators align with the long-term bullish on-chain metrics. The RSI has reclaimed the neutral line at 52, signaling renewed buyer strength and a return to bullish territory. The MACD has formed a golden cross, surpassing the single line for the first time since May, suggesting a potential mid-term uptrend.

XRP has already surpassed the immediate resistance to a breakout at the 0.618 Fibonacci level at $2.267. The next hurdle sits at $2.44, which will determine whether this is a true breakout or a false move. Should the bullish case play out, the pattern sets up a likely technical target at the 2.618 Fibonacci extension around $4.365, representing a 90% gain from current levels. For this breakout to fully materialize, a market-warming catalyst such as the October 17 U.S. spot XRP ETF decision could prove decisive, opening the door to fresh TradFi inflows.