XRP News Today: XRP Rises 3% Amid Bullish Pattern and Bearish Death Cross Signals

XRP has surged 3% in the past 24 hours, trading at $2.99, with a market capitalization of $177.5 billion, according to the latest data [1]. However, the positive price movement is being tempered by a bearish technical signal. Crypto analyst Ali Martinez pointed out that the MVRV ratio on XRP’s chart has formed a death cross—a key indicator historically associated with increased bearish pressure and potential price weakness [1].

Despite the death cross warning, some traders remain optimistic. Trader Henry noted that XRP is forming its largest bullish pennant pattern to date, with a series of green candle closes suggesting potential upward momentum. He suggested that a breakout to $4 is becoming increasingly likely [1].

In a related development, Ripple CTO David Schwartz announced the launch of a new independent infrastructure project aimed at enhancing the XRP Ledger (XRPL). The initiative involves a standalone server that will act as a high-quality hub, supporting validators on the Unique Node List, as well as other hubs and XRPL-based applications. Schwartz emphasized that the project is designed to improve the network’s resilience and efficiency, thereby strengthening the overall XRPL ecosystem [1].

The broader cryptocurrency market, however, has seen mixed performance. Bitcoin (BTC) and Ethereum (ETH) remain in negative territory, with BTC/USD down 3.8% to $114,413.52 and ETH/USD down 8% to $3,568.24. Both cryptocurrencies also show a 7-day trend decline of -3.8% and -8%, respectively, while XRP has declined 7.4% over the same period [1].

The conflicting signals—bullish pattern formation and a bearish death cross—highlight the uncertainty currently surrounding XRP. Traders are advised to monitor both the technical developments and the broader market trends closely before making any investment decisions.

Sources:

[1] XRP Climbs 3% But One Key Indicator Just Flashed A Death Cross

https://www.benzinga.com/crypto/cryptocurrency/25/08/46826951/xrp-climbs-3-but-one-key-indicator-just-flashed-a-death-cross?utm_source=coingecko&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site